BW Group completed the acquisition of additional 51.96% in BW Energy Limited (OB : BWE) from BW Offshore Limited (OB:BWO) and others for NOK 3.6 billion in a tender offer.

BW Energy Limited is an exploration and production (E&P) company. The Company is involved in the acquisition, development and production of oil and natural gas fields, and holds interests in three hydrocarbon licenses in Gabon, Brazil, and Namibia. The Maromba discovery is located approximately 100 kilometers offshore in the southern part of the Campos Basin in Brazil. In Gabon, the Company’s Dussafu license is situated within the Ruche Exclusive Exploitation Area (Ruche EEA), which covers approximately 850 square kms and includes six discovered oil fields and numerous leads and prospects. In Namibia, Kudu gas discovery asset is in the northern Orange sub-basin approximately 130 kms off the south-west coast of Namibia. It is situated on Petroleum Production license 003 (PPL003) which has an area of 4,567 square kms and the field water depth is approximately 170 meters. It also holds a 100% working interest (WI) in the Golfinho and Camarupim Clusters and 65% WI in the BM-ES-23 block.