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BW Offshore buys another stake in African oil field

Norwegian FPSO carrier BW Offshore has purchased yet another stake in the production license on an oil field in Gabon in Africa.

Photo: BW Offshore

In late 2016, Norwegian BW Offshore purchased two thirds of the oil field Dussafu in Gabon in Africa. Now, the company is buying another 25 percent of the field. This time the seller is Panoro Energy.

The Norwegian company has acquired 25 percent of the production license from Panoro for USD 12 million, USD 11 million of which are to be paid up front while the last million must be paid by the end of the year.

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