BW Offshore Completes Asset Transfer

Oct 02, 2019

BW Offshore finalized the transfer of E&P assets to BW Energy, the former subsidiary. As a result, BW Energy becomes an independent E&P company based in Bermuda.

BW Offshore’s decision to separate its share of E&P was announced in May this year. The goal is for BW Energy to be open to external investors so that projects such as the development of the Maromba field in the Campos Basin have greater access to finance.

Maromba was acquired by BW Offshore in the first half of this year. In addition to the assets in the Campos Basin, BW Energy’s portfolio has licenses from Dussafu (73.5%) off Gabon and Kudu (56%) off the coast of Namibia.

BW Energy’s ownership structure is split between BW Offshore (68.6%), BW Group (30.5%) and Arnet Energy (0.9%), a company of Carl K. Arnet, CEO of BW Energy and member of the Board of Directors of BW Offshore.

Source: Brasil Energia Magazine

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