BWE Seeks Project Financing Solution for Namibia’s Kudu Gas to Power Development - Africa’s premier report on the oil, gas and energy landscape.

BWE Seeks Project Financing Solution for Namibia’s Kudu Gas to Power Development

Norwegian operator BW Energy, has reported the most far-fetched advancement in the development of Kudu gas field offshore Namibia in the last five years.

The company says it signed, earlier in February 2023, an Engagement Protocol with the local power company NamPower Corp. BWE also says it has made significant progress in understanding the complicated Kudu gas reservoir system, consisting of aeolian sands and volcanics, a factor which has challenged the field’s development fifty years after discovery.

The Engagement Protocol covers the project feasibility process and a term sheet for the Power Purchase Agreement and plan for final negotiations. The timing of final sanction Kudu gas-to-power development is subject to realising a project financing solution as well as negotiating power sales agreements.

“Two years of detailed subsurface work in Kudu has highlighted potential additional gas resources and shallower oil targets, of which the latter have been de-risked by recent discoveries in Namibia”, the operator explains. “BW Energy is currently acquiring a modern three dimensional (3D) seismic, gravity and magnetic dataset over the license This will further enhance the depositional model, de-risk additional upside targets, and provide better data to support FEED programmes in addition to potential future farm-in discussions”.

 

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