BW Energy delivered strong operational performance in the first half of 2025, driven by high production uptime, competitive cost levels, and a solid safety record with zero lost time incidents. The Company’s project portfolio continues to advance, with final investment decisions taken on both the Maromba development and the Golfinho Boost project. In addition, a substantial oil discovery was made at the Bourdon prospect in the Dussafu area, further expanding BW Energy’s resource base. Backed by strong cash generation and a resilient financial structure, BW Energy is well placed to drive growth and create long-term shareholder value.
HIGHLIGHTS
Strong operational performance
- H1 2025 net production of 6.2 (4.6) million barrels, equal to 34.2 (25.4) kbopd
- Operating cost1 of USD 18.3 (26.2) per barrel and zero lost time incidents
- Assumed operatorship of the BW Adolo FPSO
Successfully developing and increasing the resource base
- Final investment decision made on Maromba and Golfinho Boost projects
- Substantial oil discovery of 25 mmbbls in the Bourdon prospect
Robust financial results
- H1 2025 EBITDA of USD 281.1 (185.8) million and net profit of USD 109.7 (61.9) million
- Q2 2025 EBITDA of USD 99.0 million and net profit of USD 26.7 million
- Operating cash flow of USD 162.0 (85.1) million
- Cash position of USD 192.9 (244.2) million at 30 June
- New and upsized RBL facility up to USD 500 million
2025 guidance unchanged
- Production: 11-12 mmbbls (30-32 kbopd)
- Operating cost1: USD 18-22 per barrel
- CAPEX: USD 650-700 million
- G&A: USD 19-22 million
(Numbers in parenthesis refer to H1 2024)
1) Operating costs …