BW Offshore: Closing of the acquisition of stake in Dussafu field
April 10 2017 - 1:30AM
BW Energy Gabon Pte. Ltd ("BWEG"), a subsidiary of
BW Offshore, has today completed the acquisition of 100% interest
in Harvest Dussafu B.V. from Harvest Energia B.V., a wholly-owned
subsidiary of Harvest Natural Resources, Inc. (NYSE:HNR). Closing
is in line with the terms and conditions previously communicated in
the stock exchange release made on 22 December 2016.
BWEG is owned by BW Energy
Holdings Pte. Ltd. (BWEH), a joint venture company between BW
Offshore (66.67%) and Maple Company Limited (33.33%), a wholly
owned subsidiary of BW Group Limited, for the purpose of pursuing
oil and gas interests.
Following the abovementioned
closing, BWEG holds a 66.66% working interest in the Dussafu
production sharing contract, while Panoro Energy ASA holds the
remaining 33.33%.
BW Offshore and Panoro Energy ASA
are working 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.
For further information, please contact:
Knut R. Sæthre, CFO, +47 9111 7876
IR@bwoffshore.com or www.bwoffshore.com
About BW
Offshore:
BW Offshore is a leading global
provider of floating production services to the oil and gas
industry. BW Offshore has a fleet of 14 owned FPSOs and one FSO
represented in all major oil & gas regions world-wide. BW
Offshore has a long track record on project execution and
operations. In more than 30 years of production, BW Offshore has
executed 38 FPSO and FSO projects. The company is listed on the
Oslo Stock Exchange.
This information is subject
to the disclosure requirements pursuant to section 5 -12 of the
Norwegian Securities Trading Act.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: BW Offshore via Globenewswire
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