BW Energy Gabon (BWEG), a subsidiary of BW Offshore, has fully acquired the a 66.67% stake in the Dussafu production sharing contract offshore Gabon, owned by Harvest Energia, for $32 million in cash, Offshore Energy Today reported.
According to Petroleum Africa, BWEG was created in 2016 with interest in pursuing oil and gas projects, it is owned by BW Energy Holdings (BWEH), a joint venture company between BW Offshore (66.67%) and Maple Company (33.33%), a wholly owned subsidiary of BW Group.
The new oil firm is currently planning to increase its stake in the Dussafu permit through a deal with Panoro Energy which acquires the remaining 33.33%.
BW Offshore said that it is working with Panoro Energy towards closing of the acquisition of a further 25% working interest in the Dussafu licence from a subsidiary of Panoro Energy, Pan-Petroleum Gabon B.V. (PPGBV), and a separate announcement will be made once such transaction is completed. In relation to and subject to the closing of the acquisitions from Panoro and Harvest, BWEG is in discussions with the Gabon Oil Company (GOC) for their participation in the field ownership.