Norway's independent BW Energy is looking beyond its existing African oil assets as it evaluates new offshore opportunities, with Angola emerging as a key new market alongside its established operations in Gabon and its gas project in Namibia.
The company’s latest move came in August, when BW Energy signed a framework agreement with Angola’s Etu Energias and Chariot to support Etu’s planned acquisition of stakes in Block 14 and Block 14K offshore Cabinda. Etu has agreed to acquire a 31% interest in Block 14 and 15.5% in Block 14K from Chevron, subject to regulatory approvals and other conditions.
BW Energy would not acquire those interests directly. Instead, it would provide technical and operational support to Etu and gain economic exposure to future cash flows equivalent to about 8,000 barrels of oil per day and 19 million barrels of net 2P reserves. The combined blocks currently produce about 42,000 barrels per day.
The agreement marks a new route into Angola for BW Energy after an earlier attempt to acquire interests in the same blocks with Maurel & Prom was complicated by a partner exercising pre-emption rights. In February, BW Energy said it remained committed to establishing a presence in Angola and was evaluating opportunities in the country and the wider region.
Gabon remains the company's main African production base. BW Energy operates the Dussafu Marin license, where it holds a 73.5% working interest, as well as the Niosi and Guduma exploration licenses. In April, Gabon extended the Dussafu license from 2028 to 2053, giving the company a longer window to develop existing discoveries and pursue additional projects around the producing field.
Production from Dussafu averaged 19,300 barrels per day net to BW Energy in the second quarter of 2026, accounting for most of the company's total net output of 25,300 barrels per day. The company has also approved the Bourdon development in Gabon and expects its broader project portfolio to lift net production above 100,000 barrels per day in 2028.
Namibia adds another long-term opportunity. BW Energy operates the Kudu license with a 95% interest and estimates 190 million barrels of oil equivalent in 2C gas resources. The company is working on an updated gas-to-power development concept for the offshore field.
Together, the projects show how BW Energy is building around proven offshore resources, existing infrastructure and partnerships rather than relying solely on large new developments. Angola is the latest step, while the company's search for additional opportunities could further expand its footprint across Africa.
For now, however, the distinction is important: BW Energy has entered a framework arrangement in Angola, but it has not announced a series of completed acquisitions. Its broader expansion remains a strategy built around evaluating and pursuing opportunities that fit its offshore growth model.
