BW Energy eyes Angolan offshore expansion with potential Azule Energy stake

BW Energy Group, an E&P company, is actively engaged in a process to potentially acquire Azule Energy's non-operated interests in Block 14/14K offshore Angola. This aligns with the group's stated strategy of continuously considering opportunities for asset acquisition. The company emphasized that no binding agreement has been reached, and there is no assurance this process will lead to a transaction.

BW Energy's current portfolio includes a 73.5% stake in the Dussafu Marine licence offshore Gabon, 100% interests in Brazil's Golfinho and Camarupim fields, and 95% interests in both the Maromba field (Brazil) and the Kudu field (Namibia), all operated by the company. Additionally, BW Energy holds a 76.5% interest in the BM-ES-23 block in Brazil, approximately 7% of Reconnaissance Energy Africa Ltd. common shares, and a 20% non-operating interest in Namibia's onshore PEL 73.

The company reported total net 2P+2C reserves and resources of 599 million barrels of oil equivalent at the start of 2025. This disclosure is made in accordance with section 5-12 of the Norwegian Securities Trading Act.