BW Energy secures US$250m credit facility to drive offshore growth

BW Energy has signed a US$250 million Corporate Revolving Credit Facility with Norway’s largest financial services group, DNB Bank ASA, to bolster financial flexibility for its offshore oil and gas projects. The funding will support ongoing field development and general corporate purposes. The facility, backed by BW Group, has an initial 18-month tenor with a bullet maturity and an option to extend for a further 18 months. Drawn amounts will bear interest at Term SOFR plus 6% per annum, with a 0.6% commitment fee on undrawn balances.“This facility enhances our liquidity and provides cost-effective access to capital, allowing us to maintain financial flexibility as we advance our growth projects,” said BW Energy Chief Financial Officer Brice Morlot.BW Energy, listed on the Oslo Stock Exchange, is an agile, infrastructure-led offshore exploration and production company with operations in Gabon, Brazil, and Namibia. The company specialises in de-risking proven offshore fields through phased developments and leveraging existing production facilities to accelerate first oil and reduce capital expenditure.In Gabon, BW Energy operates the Dussafu Marine licence, producing via the FPSO BW Adolo, and recently made a substantial oil discovery at the Bourdon prospect, confirming a 45 m hydrocarbon column. In Brazil, the company has sanctioned a US$1.5 billion development at the Maromba field, aiming to produce 123 million barrels from a 500 Million Barrel resource, with first oil targeted for 2027 and peak output of 60 000 barrels per day.BW Energy holds a 95% interest in the Kudu gas field, where it has completed 5 000 km² of 3D seismic surveys and plans to drill an appraisal well later this year. The project’s revised strategy involves repurposing a semi-submersible Floating Production Unit for gas-to-power development.DNB Bank, headquartered in Oslo, serves as a major lender to the energy, shipping, and seafood industries, providing corporate, retail, and investment banking services across global markets.

BW Energy secures US$250m credit facility to drive offshore growth

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Republikein 2026-01-29

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BW Energy secures US$250m credit facility to drive offshore growth

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Republikein 2026-01-29

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