Core Viewpoint - BW Energy, in partnership with Maurel & Prom, has signed an agreement to acquire a 20% non-operated interest in Block 14 and a 10% interest in Block 14K offshore Angola from Azule Energy, marking a strategic move in its West Africa growth strategy [1][2]. Group 1: Acquisition Details - The transaction will result in BW Energy holding a net share of 10% in Block 14 and 5% in Block 14K, aligning with the company's long-term regional growth strategy [1][2]. - The total cash consideration for the acquisition is USD 97.5 million net to BW Energy, with an immediate deposit of USD 6 million and the remainder to be settled at completion, subject to customary adjustments [4]. Group 2: Strategic Importance - The entry into Angola is seen as a key step for BW Energy, providing diversification of its resource base and positioning for future operated development opportunities in a mature hydrocarbon basin [2]. - Block 14 is a mature deepwater asset with nine producing fields, while Block 14K serves as a tie-back to the main block, operated by Chevron, with a license running until 2038 [2]. Group 3: Production and Reserves - Gross production from the assets is approximately 40,000 barrels of oil per day (kbopd), with BW Energy's net share at 4 kbopd, and current producing reserves estimated at 9.3 million barrels (mmbbls) net to BW Energy [2]. - There are identified opportunities to further increase recoverable volumes from the acquired assets [2]. Group 4: Partnership and Future Prospects - The acquisition is part of a joint transaction with Maurel & Prom, which will hold equal ownership interests in the two licenses, with BW Energy valuing Maurel & Prom as a strong partner [3]. - Completion of the transaction is subject to regulatory approvals and is expected by mid-2026 [3].