BW Energy has informed that one of the existing joint venture partners in Angola's offshore blocks 14 and 14K has indicated its intention to exercise pre-emption rights in relation to the previously announced acquisition agreement.
BW Energy and its partner Maurel & Prom had been notified of the move by a joint venture partner in the two licenses.
The agreement signed between BW Energy, Maurel & Prom and Azule Energy remains effective until a new sale and purchase agreement is executed between Azule Energy and the party exercising the pre-emption right.
The company said it remains committed to establishing a presence in Angola as part of its broader West Africa growth strategy and continues to evaluate opportunities in the country and the wider region.
In December 2025, BW Energy said it had agreed, as part of a consortium with Maurel & Prom, to acquire interests in offshore Blocks 14 and 14K from Azule Energy, marking a strategic entry into Angola.
Under that transaction, BW Energy was to acquire a 10% non-operated interest in Block 14 and a 5% interest in Block 14K, while Maurel & Prom would acquire equal interests.
Block 14 is a mature deepwater asset comprising nine producing fields, while Block 14K is a tie-back to the main block.
The assets are operated by Chevron, with licenses running to 2038. Gross production from the blocks is around 40,000 barrels of oil per day, with net production to BW Energy estimated at about 4,000 barrels per day based on the proposed interests.
BW Energy previously said the transaction was subject to regulatory approvals and customary closing conditions, with completion expected by mid-2026.