With reference to the stock exchange announcement published on 2 March 2023, BW Energy has been informed that the work related to the Golfinho transactions can be restarted.
BW Energy will now continue to prepare for the closing of its acquisition of a 100% operated working interest (WI) in the Golfinho and Camarupim Clusters and 65% WI in the BM-ES-23 block from Petrobras, as well as taking over the FPSO Cidade de Vitoria from Saipem. This preparation work includes progressing relevant approvals from the Brazilian authorities, operational preparedness, field development planning and build-up of the local BW Energy organization. Closing the field transaction and FPSO takeover is subject to fulfilment or waiver of conditions precedent and the restart of the FPSO after upgrades required by ANP. The transactions are expected to close in the second quarter of 2023.