BW Energy ready to float Gabon and Namibia E&P assets

摘要

BW Energy will be floated before the end of this quarter with an expected valuation of up to US $800m. The firm is BW Offshore's E&P business which holds the producing 112m bbl Dussafu project off Gabon and is trying to lift its interest in the Kudu project off Namibia. "Our business model is to acquire resources that have already been found by others, and to develop those. We do not want to spend money on exploration in uncharted waters," BW Energy Chief Executive Carl Arnet said.