BW Offshore has bought into the Kudu oil and gas field off Namibia.
Its BW Kudu subsidiary has reached an agreement to acquire a 56% stake of the license, with National Petroleum Corporation of Namibia (NAMCOR) having the rest.
The final contract could be signed in the fourth quarter.
BW will now start work with the Namibian government, NAMCOR, utility company NamPower, large infrastructure investors and other stakeholders to finalise the Kudu Gas to Power project.
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