BW Energy and Maurel & Prom Acquire Stakes in Angola’s Block 14 and 14K from Azule Energy
BW Energy, in partnership with Maurel & Prom, has signed an agreement to acquire offshore interests in Angola from Azule Energy, marking BW Energy’s entry into the Angolan upstream sector.
Under the transaction, the consortium will obtain a combined 20% non-operated interest in Block 14 and a 10% non-operated interest in Block 14K.
BW Energy’s share of the acquisition equates to a 10% stake in Block 14 and a 5% stake in Block 14K, supporting the company’s longer-term regional expansion strategy.
BW Energy Chief Executive Officer Carl K. Arnet said the move into Angola represents a significant milestone in the company’s West African growth plans and further diversifies its asset portfolio.
He highlighted the upside potential in Block 14 beyond current production and noted that the acquisition positions BW Energy for potential future operated developments in the country.
Arnet added that Angola’s mature offshore basin, active mergers and acquisitions environment, and strong government support for continued energy development provide an attractive setting for BW Energy’s strategy of unlocking value from proven reserves and underutilized assets by leveraging existing infrastructure.
Block 14 is a mature deepwater development comprising nine producing fields, while Block 14K is a satellite license tied back to the main Block 14 infrastructure.
The assets are operated by Chevron, with license terms extending through 2038. Current gross production is approximately 40,000 barrels per day, with BW Energy’s net share estimated at around 4,000 barrels per day.
Net producing reserves attributable to BW Energy are estimated at 9.3 million barrels, with several opportunities identified to increase recoverable volumes. Abandonment and decommissioning liabilities are already fully provisioned.
Maurel & Prom is completing the acquisition alongside BW Energy and will hold identical ownership interests in both licenses. BW Energy described Maurel & Prom as a strong and experienced partner for the transaction.
The deal remains subject to regulatory approvals and customary closing conditions, with completion targeted for mid-2026.
