Gabon: BW Offshore takes on Dussafu
Issue 338
- 19 Jan 2017
| 1 minute read
BW Offshore has agreed to buy Harvest Natural Resources’ stake in the Dussafu Block offshore southern Gabon for $32m in cash. Harvest owns a 66.667% interest in the Dussafu production-sharing contract, while the remaining 33.333% interest is owned by Pan-Petroleum Gabon, a subsidiary of Oslo-listed Panoro Energy. BW has entered a memorandum of understanding with Pan-Petroleum relating to the proposed acquisition of a further 25% interest in Dussafu for $12m in cash subject to the closing of the Harvest transaction, and is also in discussions with the Gabon Oil Company for its participation.
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