BW acquires clusters

BW Energy completed the acquisition of the Golfinho and Camarupim clusters, both in Espirito Santo basin, from Petrobras and taking over ownership and operatorship of approximately 10.000 barrels
of daily oil production. The company owns 100% working interest (WI) in the Golfinho and Camarupim clusters and 65% WI in the BM-ES-23 block. The Company’s overall estimate is 38 million boe.
The transaction is financed through BW Energy’s existing liquidity and an oil pre-payment facility with USD 12.2 million paid at closing following an initial USD 3 million payment back in 2022. The agreement also includes up to USD 60 million in future contingent payments linked to oil price, well
operations and further successful development of the acquired assets.