BW Energy: granted extension to the Golfinho licence production phase to 2042 by ANP  

02 Apr 2025 07:30 CEST

BW Energy granted extension to the Golfinho licence production phase to 2042 by
ANP

BW Energy is pleased to announce the extension of the Golfinho licence by
Brazilian oil and gas regulator ANP. The production phase under the Golfinho
concession contract has been extended to 2042 from previously 2031, following
ANP's approval of the Company's field development plan in November 2024.

"The extension supports our long-term plans for developing the Golfinho field,
initially through improved operational performance of existing infrastructure
and later targeting several proven low risk in-field development opportunities.
We see a significant potential for long-term value creation at Golfinho" said
Carl K. Arnet, the CEO of BW Energy.

BW Energy is the operator with 100% working interest in the Golfinho licence
following the August 2023 acquisition of the Golfinho and Camarupim Clusters. It
is located in the Espírito Santo Basin with water depths between 1,300 and
2,200 metres. Hydrocarbons are produced to the FPSO Cidade de Vitória, which BW
Energy acquired and has operated since November 2023. The field has been
producing since 2007.

For further information, please contact:

Brice Morlot, CFO BW Energy, +33.7.81.11.41.16

ir@bwenergy.com (mailto:ir@bwenergy.com)

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 of the Norwegian Securities Trading Act.

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