BW Energy Expands West African Presence with $280 Million Stake Acquisition in Angola’s Blocks 14 and 14K

BW Energy has announced a $280 million transaction to acquire a 25% stake in offshore blocks 14 and 14K located in Angola’s deepwater basin. The move marks a strategic expansion into one of Africa’s most active oil regions and underscores growing investor confidence in the country’s hydrocarbon reserves.

BW Energy has entered into a definitive agreement to acquire a 25% interest in Blocks 14 and 14K offshore Angola, a joint venture operated by a consortium that includes TotalEnergies and Sonangol. The transaction, valued at $280 million, includes the transfer of exploration and production rights across approximately 1,300 square kilometers of deepwater acreage. The blocks are situated in the Kwanza Basin, a region known for significant oil discoveries, including the recent offshore find at the Kizomba A field, which has estimated recoverable reserves exceeding 1 billion barrels of oil equivalent. The acquisition positions BW Energy as a key player in Angola’s deepwater sector, expanding its portfolio beyond existing operations in Nigeria and Ghana. The company will now hold a controlling stake in the development phase of the Kwanza Basin project, contributing to the $4.5 billion capital expenditure plan for upcoming drilling campaigns. This investment reflects BW Energy’s strategy to grow its upstream footprint through targeted acquisitions in high-potential basins. Market participants are viewing the deal as a positive signal for regional energy investment. Shares of BW Energy (ticker: BWEN) rose 3.7% in early trading, while benchmark Brent crude prices gained 0.9% on expectations of increased supply from the region. The transaction also benefits Sonangol and TotalEnergies, who are divesting portions of their interests to fund new exploration initiatives elsewhere in the basin.