BW Energy provides Update on Angola transaction

06 Feb BW Energy provides Update on Angola transaction

(Oilandgaspress) -] –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.

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