Kudu, Namibia

Kudu, gaining momentum

The Kudu gas discovery is in the northern Orange sub-basin approximately 130 km off the south-west coast of Namibia. It is situated in Petroleum Production License 003 ("PPL003") which has an area of 4,567 square kilometres and the field water depth is approximately 170 metres. The field was discovered in 1974 with Kudu-1 and is delineated by seven subsequent wells.

In May 2023, BW Energy completed acquisition of ~5,000 sq km of 3D seismic to enhance the depositional model and identify potential upside targets in the Kudu PPL-003 licence. Based on the seismic and data from recent successful adjacent exploration activity, BW Energy has sanctioned the drilling of an appraisal well targeting the Kharas Prospect north-west on the Kudu formation in late 2025.

BW Energy is advancing an updated development strategy for the gas-to-power project, incorporating a modified semi-submersible drilling rig to serve as a Floating Production Unit. This repurposed facility will streamline the project timeline and substantially decrease capital investments in comparison to previous development approaches.

BW Energy is targeting the provision of power to a burgeoning African market with substantial growth prospects. The development of the Kudu field presents an appealing opportunity for BW Energy to enter the electricity market and potentially establish itself, either fully or partially, as an Independent Power Producer (IPP) through strategic partnerships.

BW Energy currently holds a 95% operated ownership interest. National Petroleum Corporation of Namibia (NAMCOR) holds a remaining 5% working interest with an additional 5% back-in right upon first gas subject to certain conditions.