BW Energy contracts Deepsea Mira for drilling Kudu appraisal well

28 Jul 2025 07:10 CEST

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 Act

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