BW Energy: Second quarter 2025 operational update 

18 Jul 2025 07:00 CEST

Second quarter 2025 operational update

BW Energy will publish its financial results for the second quarter and first
half of 2025 on 1 August 2025. Today, the company provides preliminary
operational figures.

Net production attributable to BW Energy was 2.9 million barrels of oil (mmbbls)
in the second quarter 2025, equivalent to 32.3 thousand barrels of oil per day
(kbopd), from the Dussafu license in Gabon (73.5% working interest) and the
Golfinho field in Brazil (100% working interest).

  Q2 2025 Q1 2025 Q2 2024

Production (mmbbls) 2.9 3.2 2.1

Dussafu 2.4 2.6 1.4

Golfinho 0.5 0.7 0.7



Production (kbopd) 32.3 36.0 23.6

Dussafu 26.6 28.7 15.6

Golfinho 5.7 7.3 8.0



Net volume sold (mmbbls) 2.8 3.7 1.9

Dussafu(1) 2.3 3.2 0.9

Golfinho 0.5 0.5 1

(1)incl. Domestic market obligations (DMO) 0.07 0.07 0.03

(1)incl. State profit oil 0.30 0.32 0.17



Quarter-end stock inventory (mmbbls) 0.5 0.2

Dussafu -0.2 -0.4

Golfinho 0.7 0.6



Average realised price (USD)  66.7 74.8 83.8

Dussafu 66.2 74.8 81.1

Golfinho 69.1 75.0 86.4



Operational costs(2 )(USD per barrel) 20.4 16.5 28.5

Dussafu 14.3 9.9 19.8

Golfinho 49.0 42.2 45.4


2) Operating costs exclude Royalties, Tariffs, Workovers, Domestic Market
Obligation purchases, Production Sharing costs in Gabon, and incorporates the
impact of IFRS 16 adjustments.

Reporting

BW Energy will publish its financial results for the second quarter and first
half of 2025 on 1 August at 07:00 CEST. Management will host a webcast
presentation later the same day at 14:00 CEST, followed by a live Q&A session.
The webcast will be available at www.bwenergy.no (http://www.bwenergy.no).

For further information, please contact:

Martin Seland Simensen, VP Investor Relations BW Energy

+47 416 92 087, martin.simensen@bwenergy.no (mailto: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 of the Norwegian Securities Trading Act.

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