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Oslo-listed oil and gas E&P player BW Energy has secured a multi-year licence extension for its core producing asset off the coast of Gabon, Africa.
BW Energy has obtained a 25‑year extension of the Dussafu Marin production licence offshore Gabon, following an agreement with the Ministry of Oil and Gas of the Gabonese Republic. As a result, the licence period has been extended from 2028 to 2053.
Carl K. Arnet, Chief Executive Officer (CEO) of BW Energy, commented: “The extension is an important milestone for BW Energy and reflects our strong partnership with the Gabonese authorities.
“It provides a robust long‑term framework for continued investment and production growth across the Dussafu area. We remain committed to responsible resource development and to contributing to sustainable economic activity and long‑term value creation in Gabon.”
The company explains that the extended licence provides long‑term visibility for production, investments, and reserve development at its core producing asset, supporting the continued execution of ongoing projects at Dussafu, including MaBoMo Phase 2 and the planned Bourdon development.
The new timeline is perceived to strengthen the foundation for future infrastructure‑led growth opportunities across BW Energy’s adjacent Niosi and Guduma licences. BW Energy operates the Dussafu Marin licence and holds a 73.5% working interest, with Panoro as its partner with a 17.5% stake in Dussafu.
Eric d’Argentre, Chief Operating Officer (COO) and President of Panoro, commented: “This very welcome news will allow us to confidently plan future phases of investment, including the Bourdon discovery which the joint-venture partners are maturing towards final investment decision and other as-yet undeveloped discoveries and prospects.
“The organic development opportunities at Dussafu are significant, and we continue to be firmly focused on creating maximum value and growth for all stakeholders. We are on-track to commence the four-well MaBoMo Phase 2 development drilling programme mid-year which is expected to return gross production at Dussafu to nameplate capacity of around 40,000 bopd when all new wells are onstream.
“We have also identified two potential appraisal targets that could be drilled after the MaBoMo Phase 2 wells and offer additional fast-track / cost-effective production opportunities.”
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