BW Energy contracts Deepsea Mira for drilling Kudu appraisal well
BW Energy, together with NAMCOR E&P, is pleased to announce that it has contracted the Deepsea Mira semi-submersible rig for the drilling of the Kharas appraisal well on the Kudu licence (PPL003) offshore Namibia in the Orange Basin, scheduled for the second half of 2025.
The agreement is part of a rig-sharing arrangement previously announced by the rig's operator, Northern Ocean Ltd., with Rhino Resources Ltd. The contract, entered into by BW Kudu Ltd., provides access to an in-country rig and an experienced services team with a strong track record in the Orange Basin, supported by a high level of local content.
BW Energy is the operator of the Kudu production licence (PPL003) with a 95% working interest. NAMCOR E&P, a subsidiary of the national oil company of Namibia, holds the remaining 5% carried interest.
For further information, please contact:
Martin Seland Simensen, VP Investor Relations BW Energy
+47 416 92 087, martin.simensen@bwenergy.no
About BW Energy:
BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company's assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 ("PEL 73") in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading ActMelden Sie sich an, um Ihr Portfolio aufzurufen.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
5 hours ago
- Yahoo
Newmont (NEM) Secures Akyem Lease Ratification With US$770 Million Divestiture Proceeds
Newmont recently announced that the Ghanaian Parliament ratified the renewal of the Akyem East Mining Lease, with Zijin Mining Group paying $100 million as part of Newmont's divestiture program expected to generate $3.1 billion this year. This financial boost aligns with the company's capital priorities of debt reduction and shareholder returns. Over the last quarter, Newmont's share price experienced a 21% increase. Despite market volatility influenced by tariffs and weak jobs data, Newmont's decisive divestiture strategy and substantial after-tax proceeds may have bolstered its share price gains, contrasting broader market declines. Every company has risks, and we've spotted 2 weaknesses for Newmont (of which 1 is a bit concerning!) you should know about. These 18 companies survived and thrived after COVID and have the right ingredients to survive Trump's tariffs. Discover why before your portfolio feels the trade war pinch. The recent approval of Newmont's Akyem East Mining Lease renewal and the substantial capital injection from its asset divestiture program should reinforce the company's commitment to capital priorities such as debt reduction and enhancing shareholder returns. Over a three-year period, Newmont's total return, which includes share price appreciation and dividends, was 54.49%. This reflects steady long-term growth, despite being more impressive in the recent quarter with a 21% increase. Over the past year, Newmont's performance outpaced both the US Metals and Mining industry, which returned 13.4%, and the broader US market, which returned 17.7%. The divestiture proceeds of US$3.1 billion may bolster Newmont's revenue and earnings trajectory, feeding into ongoing portfolio optimization and potentially elevating operational efficiency. Analysts anticipate revenue growth of 2.7% annually, supported by high-margin projects and strategic asset focus. However, forecasts indicate a decline in earnings of 2.6% per year over the next three years, suggesting closer attention to cost management and project execution risks may be warranted. With the share price at US$62.59, it's trading at a 12.42% discount to the analyst consensus price target of US$70.36, indicating potential room for growth if management successfully mitigates operational challenges and leverages the favorable economic factors continuing to support gold prices. Understand Newmont's track record by examining our performance history report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NEM. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
10 hours ago
- Yahoo
Visa (V) Targets Africa's $1.5 Trillion Digital Economy With New Data Center
Visa Inc. (NYSE:V) ranks among the . On July 23, Visa Inc. (NYSE:V) launched its first data center in Africa in Johannesburg. The facility is part of a $1 billion ($57 million) investment in South Africa over the next three years, according to Michael Berner, head of Visa's Southern and East Africa division, who spoke at the event. A 2025 Mastercard-commissioned analysis by Genesis Analytics projects that Africa's digital payments economy would grow to $1.5 trillion by 2030, driven by swift improvements in internet penetration and financial inclusion. By enhancing the local financial ecosystem, expanding Visa Inc. (NYSE:V)'s VisaNet, and putting South Africa in line with global fintech growth trends, the facility positions the country as a digital hub. Visa Inc. (NYSE:V) is a global payments technology company that operates one of the world's largest electronic payment networks. While we acknowledge the potential of V as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None.
Yahoo
14 hours ago
- Yahoo
Salem: Building New AI-enabled Oil Rigs
ADNOC Drilling is forging ahead with its global expansions plans with more M&A. The UAE-based firm is planning to buy a company operating oil and gas rigs in Kuwait and Oman which would be the second such deal in less than a year. Youssef Salem, CFO of ADNOC Drilling spoke to Bloomberg's Horizons Middle East and Africa anchor Joumanna Bercetche on the expansion plans plus their use of AI.
