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Maurel & Prom, BW Energy Consortium to Acquire Stakes in Angola Oil Projects

MT Newswires·12/12/2025 04:18:21
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04:18 AM EST, 12/12/2025 (MT Newswires) -- Etablissements Maurel & Prom S.A (MAU.PA) and BW Energy (BWE.OL) agreed to acquire Azule Energy Angola's stakes in two oil projects located offshore Angola. Through a consortium, the companies will purchase a combined 20% interest in Block 14 and a 10% stake in Block 14K, according to a Friday release. The deal includes a base consideration of $195 million, alongside potential contingent payments of up to $115 million. Subject to regulatory approvals, the deal is expected to close in mid-2026. Block 14 is a mature deepwater asset, while Block 14K is a tie-back to the former.