BW Energy has provided an update regarding its previously announced agreement to acquire interests in offshore Block 14 and Block 14K in Angola.
BW Energy and its partner Maurel & Prom have been notified that one of the existing joint venture partners in Block 14 and Block 14K has indicated its intention to exercise its pre-emption rights in relation to the transaction.
The agreement entered into between BW Energy, Maurel & Prom and Azule Energy remains effective until the execution of a new sale and purchase agreement between Azule Energy and the party exercising the pre-emption right.
BW Energy remains committed to its strategy of establishing a presence in Angola as part of its broader West Africa growth ambitions, and continues to evaluate opportunities in the country and the wider region.
Further updates will be provided as appropriate.
Source: BW Energy
