BW Energy has signed a deal to increase its stake in the Kudu licence, offshore Namibia, potentially reviving the long-dormant project.
Additional drilling at Gabon’s Dussafu Marin licence has been deferred because of coronavirus, BW Energy has said, blaming international travel restrictions.
Work at the Dussafu Marin licence in Gabon has slowed as a result of the coronavirus outbreak.
BW Offshore intends to hold an IPO of its BW Energy unit, which is producing oil in Gabon, in the first quarter of 2020 on the Oslo Stock Exchange.
BW Offshore plans to double production from the first phase of the Ruche development to 30,000 barrels per day.
BW Offshore’s work on the Hibiscus find suggests it may hold 40-50 million barrels, up from the initial estimate of 12mn barrels.