BW Energy: Signs USD 150 million sale & leaseback for MaBoMo production facility
30 Aprile 2024 - 7:25AM
BW Energy: Signs USD 150 million sale & leaseback for MaBoMo
production facility
BW Energy: Signs USD 150 million sale & leaseback
for MaBoMo production facilityBW Energy is pleased to
announce the execution of a sale and leaseback agreement with a
Minsheng Financial Leasing Co entity (MSFL) for the MaBoMo
production facility on the Dussafu Licence offshore Gabon. The
agreement will provide USD 150 million of gross sales proceeds
under a ten-year lease term with an option to repurchase the unit
from the end of year seven.
The transaction frees up net USD 110 million of liquidity to BW
Energy, in line with the working interest in the licence. The
proceeds will be used to finance the execution of BW Energy’s
growth strategy including the continuing development projects in
Gabon.
“We are very pleased to have executed the lease financing with
MSFL. It represents a new source of funding at an attractive
capital cost and supports execution of our strategy for long-term
value-creation,” said Knut R. Sæthre the CFO of BW Energy.
For further information, please contact:
Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76
ir@bwenergy.no
About BW Energy:
BW Energy is a growth E&P company with a differentiated
strategy targeting proven offshore oil and gas reservoirs through
low risk phased developments. The Company has access to existing
production facilities to reduce time to first oil and cashflow with
lower investments than traditional offshore developments. The
Company’s assets are 73.5% of the producing Dussafu Marine licence
offshore Gabon, 100% interest in the Golfinho and Camarupim fields,
a 76.5% interest in the BM-ES-23 block in, a 95% interest in the
Maromba field in Brazil and a 95% interest in the Kudu field in
Namibia, all operated by BW Energy. Total net 2P+2C reserves and
resources were 580 million barrels of oil equivalents at the start
of 2024.
This information is subject to the disclosure requirements
pursuant to section5-12 of the Norwegian Securities Trading
Act.
Grafico Azioni BW Energy (TG:6BW)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni BW Energy (TG:6BW)
Storico
Da Gen 2024 a Gen 2025
