BW Energy, working with Maurel & Prom, has signed an agreement to buy interests in offshore Angola from Azule Energy. The consortium will acquire a combined 20% non-operated stake in Block 14 and 10% in Block 14K. BW Energy’s share of the deal gives it 10% in Block 14 and 5% in Block 14K, establishing a presence in Angola that supports its longer-term regional expansion plans.
BW Energy CEO Carl K. Arnet said the move into Angola marks an important step in the company’s West African expansion and helps broaden its asset base. He noted that Block 14 offers upside beyond current production and positions the company for possible future operated projects in the country. He added that Angola’s mature basin, active transaction market, and government backing for energy development create room for BW Energy to apply its approach of advancing proven reserves and underused assets by leveraging existing infrastructure over time.
Block 14 is a mature deepwater development with nine producing fields, while Block 14K connects back to the main block. Chevron operates the assets, and the license runs until 2038. Gross output stands at about 40 thousand barrels per day, with BW Energy’s share at roughly 4 thousand barrels per day. Net producing reserves are estimated at 9.3 million barrels for BW Energy, with several options identified to increase recoverable volumes. Existing provisions already cover abandonment and decommissioning costs.
Maurel & Prom is completing the transaction alongside BW Energy and will take the same ownership levels in both licenses. BW Energy considers Maurel & Prom a capable and experienced partner for the acquisition. The deal still requires regulatory approvals and standard closing conditions, with completion expected by mid-2026.
source:www.bwenergy.no
African Energy Council