Our history
BW Energy is a new E&P company with a differentiated strategy for developing proven offshore oil reservoirs with low-risk, phased developments.
BW Energy began as the E&P division of BW Offshore in 2016. The Company has a differentiated strategy, developing proven offshore oil and gas reservoirs through low-risk, phased developments.
BW Energy is part of the BW Group, a leading global maritime company involved in shipping, floating gas infrastructure and deepwater oil and gas production, founded in 1955 by Sir YK Pao as World-Wide Shipping. BW Group operates with a clear mission – Delivering energy for the world today and finding solutions for tomorrow.
Eighteen months after the original investment in the Dussafu Marin license offshore Gabon, the Tortue Phase 1 drilling campaign for the first two subsea wells was completed and tied back to the BW Adolo FPSO with first oil achieved in September 2018.
BW Energy acquired the Maromba license, a well delineated field in the Brazilian Campos Basin, from Petrobras and Chevron in March 2019. The Company made a final decision on the project in 2025 with first oil targeted end of 2027.
The Hibiscus discovery was made in August 2019, BW Energy updated the previously sanctioned development of the Ruche area. The discovery reported an additional 46 mmbbls recoverable oil to the Dussafu license.
BW Offshore transferred ownership interests in the Kudu Petroleum Production Licence 003 ("PPL003") license to BW Energy in the fourth quarter of 2019.
Tortue Phase 2 drilling began late 2019 with two additional subsea wells brought online in early 2020.
On 19 February 2020, BW Energy was listed on the Oslo Stock Exchange. Shortly after,
BW Energy paused all development plans due to COVID-19’s safety and logistical challenges. This allowed the Company to reassess its Hibiscus / Ruche and Maromba development plans.
Conversion of Hibiscus Alpha began in Dubai for installation in Gabon in the fourth quarter of 2022. Tortue Phase 2 was completed in October 2021 with final two wells starting production.
In 2022, BW Energy acquired the semi-submersible drilling rig West Leo for potential conversion to a Floating Production Unit for use on the Kudu field.
In 2023, BW Energy acquired Golfinho field from Petrobras and Cidade de Vitória FPSO from Saipem to become an operator and producer in Brazil.
In 2024, production started from Hibiscus South field in Gabon only five months after the initial discovery in November 2023 and the Company further expanded recoverable reserves in the greater Hibiscus area. BW Energy diversified its funding sources, issuing a USD 100 million bond and entering a sale lease back agreement for the BW MaBoMo production facility.
