This also includes its recent acquisition – via its wholly owned subsidiary BW Kudu – of a 56% stake in the Kudu offshore licence.
The National Petroleum Corporation of Namibia (NAMCOR), Namibia’s state-owned oil company, will hold the remaining 44% of the license, and BW Kudu will be the operator. Final investment decision is planned for Q4 2017.
Discovered by Chevron in 1974, 170 km off the coast of Namibia, the Kudu field is estimated to contain 1C-2C-3C Contingent Resource range within the main reservoir of 755-1330-2308 Bscf respectively. The Kudu Gas to Power project calls for gas to be produced by a Floating Production Unit before being exported by pipeline to a new 885 MW gas to power plant onshore Namibia.
The WFW team advising BW Offshore is led by Partner Jan Mellmann, Head of the firm’s Natural Resources Group, assisted by Senior Associate Heike Trischmann and Energy & Infrastructure Partner Daisy East.
Jan commented: “I’m delighted that WFW is advising BW Offshore on this vital and strategic power generation project for Namibia. This is a very encouraging sign for oil & gas and energy projects such as this across Africa”.
