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BW Offshore finalizes acquisition of African oil field

BW Offshore, which operates a fleet of FPSO vessels, has now closed the deal to purchase 66.66 percent of an oil field in Gabon. The company is already negotiating to increase this stake with another 25 percent.

Photo: BW Offshore

BW Offshore has now finalized the acquisition of an oil field off of Gabon. The deal was announced last December but has now been closed.

The transaction means that BW Offshore and parent company BW Group will purchase a total of 66.66 percent of the oil field Dussafu. The remainder is owned by Panoro Energy ASA, according to a press release.

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