BW Energy: Q3 2025 operational update

15 Oct 2025 07:00 CEST

Q3 2025 operational update

BW Energy will publish its financial results for the third quarter of 2025 on
28 October 2025. Today, the company provides preliminary operational figures.

Net production attributable to BW Energy was 2.4 million barrels of oil (mmbbls)
in the third quarter 2025, equivalent to 26.3 thousand barrels of oil per day
(kbopd), from the Dussafu licence in Gabon (73.5% working interest) and the
Golfinho field in Brazil (100% working interest). Production in the quarter was
impacted by three weeks of planned annual maintenance at Dussafu.

  Q3-2025 Q2-2025 Q3-2024

Production (mmbbls) 2.4 2.9 2.4

Dussafu 1.8 2.4 1.9

Golfinho 0.6 0.5 0.5



Production (kbopd) 26.3 32.3 25.6

Dussafu 20.0 26.6 20.2

Golfinho 6.3 5.7 5.4



Net volume sold (mmbbls) 2.9 2.8 2.5

Dussafu(1) 2.5 2.3 2.0

Golfinho 0.5 0.5 0.5

(1)incl. Domestic market obligations (DMO) 0.29 0.07 0.20

(1)incl. State profit oil 0.23 0.30 0.23



End of quarter stock inventory (mmbbls) 0.3 0.5 0.7

Dussafu -0.5 -0.2 0.4

Golfinho 0.8 0.7 0.3



Average realised price (USD/bbl) 68.5 66.7 82.0

Dussafu 67.7 66.2 82.0

Golfinho 72.6 69.1 81.7



Operational costs(2 )in (USD/bbl) 22.7 20.4 17.7

Dussafu 15.7 14.3 13.4

Golfinho 44.8 49.0 33.9

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 the financial results for the third quarter of 2025 on
28 October at 07:00 CET. Management will host a webcast presentation later the
same day at 14:00 CET, followed by a live Q&A session. The webcast will be
available at www.bwenergy.no (https://www.bwenergy.no).

For further information, please contact:
Martin Seland Simensen, VP Investor Relations
ir@bwenergy.no (mailto:ir@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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