Energy SpA - M&A Activity 2022 | FinancialReports.eu

BW Energy: Speculation related to the acquisition of Golfinho

Speculation related to the acquisition of Golfinho

BW Energy notes the continued press speculation regarding a potential of

acquisition by the Group of the Golfinho field in Brazil, which Petrobras has in

their divestment program. BW Energy confirms having discussions with Petrobras

for a potential purchase of the Golfinho Cluster offshore Brazil. This is part

of the Group's continuous consideration of opportunities to acquire assets in

line with the stated strategy. The Group can neither confirm nor deny that a

transaction will take place at this time.

For further information, please contact:

Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76

ABOUT BW ENERGY:

BW Energy is a growth E&P company with a differentiated strategy targeting

proven offshore oil and gas reservoirs through low risk phased developments. The

Company has access to existing production facilities to reduce time to first oil

and cashflow with lower investments than traditional offshore developments. The

main assets are 73.5% of the producing Dussafu Marine Permit offshore Gabon and

a 95% interest in the Maromba field in Brazil, both operated by the Company.

Total net 2P+2C reserves were 241 million barrels at the start of 2022.

Information included in this announcement is considered to be inside information

pursuant to the EU Market Abuse Regulation article 7 and is subject to the

disclosure requirements pursuant to section 5-12 of the Norwegian Securities

Trading Act. This announcement was published by Regine Andersen, IT &

Communication Support, on 14 June 2022 at the time set out above.

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