BW Energy secures 25 year extension of Dussafu licence offshore Gabon

BW Energy is pleased to announce that the Company has agreed a 25 year extension of the Dussafu Marin production licence offshore Gabon. Following an agreement with the Ministry of Oil and Gas of the Gabonese Republic, the licence period has been extended from 2028 to 2053.

The extended licence provides long term visibility for production, investments, and reserve development at BW Energy's core producing asset. It supports the continued execution of ongoing projects at Dussafu, including MaBoMo Phase 2 and the planned Bourdon development. The new timeline also strengthens the foundation for future infrastructure led growth opportunities across the adjacent Niosi and Guduma licences, both operated by BW Energy.

"The extension is an important milestone for BW Energy and reflects our strong partnership with the Gabonese authorities. It provides a robust long term framework for continued investment and production growth across the Dussafu area," said Carl K. Arnet, CEO of BW Energy. "We remain committed to responsible resource development and to contributing to sustainable economic activity and long term value creation in Gabon."

BW Energy operates the Dussafu Marin licence and holds a 73.5% working interest.

For further information, please contact: Martin Seland Simensen, VP Investor Relations ir@bwenergy.no

About BW Energy

BW Energy is a fast-growing independent oil and gas company creating value through low-risk, phased developments of proven offshore reservoirs, leveraging existing infrastructure and capital-efficient execution. The company owns and operates production, development and exploration assets in Gabon, Brazil and Namibia. Total net 2P reserves exceed 240 million barrels of oil equivalent, with a further 390 million barrels classified as 2C resources, providing a strong foundation to organically increase production from around 30 kbopd in 2025 to approximately 90 kbopd by 2028.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.