BW Energy’s solid H1 2025 performance reinforces its capacity to support strategic projects, such as Kudu gas-to-power—a key element in Namibia’s energy diversification and regional export goals.
The company reported a net profit of US$121.3 million for the first half of 2025, up from US$72.4 million in the first half of 2024, driven by higher production and sustained oil prices.
BW Energy produced 4.2 million barrels of oil during the period, with 2.1 million barrels sold in Q2 alone.
Revenue increased to US$371.5 million in H1, up from US$289.1 million in the previous year.
In Namibia, the Kudu gas-to-power project is gathering momentum.
The company is preparing to drill the Kudu appraisal well, designated Kharas-1, in the second half of 2025, between October and December.
This well is designed to confirm reservoir deliverability and mitigate geological risk before the final investment decision (FID).
The drilling will be executed using the Deepsea Mira, a semi-submersible rig mobilised under a rig-sharing agreement covering West Africa.
The appraisal campaign targets the original Kudu discovery, made in 1974, located in Block 2813A, approximately 170 km offshore from Oranjemund.
Water depths are approximately 170 metres.
Drilling costs for Kharas-1 are expected to exceed US$70 million, inclusive of mobilisation, testing, and local contractor participation.
Operations are anticipated to last 60 to 70 days.
BW Energy’s revised development strategy envisions utilising a repurposed floating production unit connected to an onshore power plant via a 170-km pipeline.
The gas would fuel a 420 MW power station that supplies Namibia’s national grid and has the potential to export electricity to the Southern African Power Pool.
Namibia’s Ministry of Mines and Energy and the Environmental Commissioner have granted full regulatory clearance for the appraisal programme.
Local job creation, training, and technology transfer form part of BW Energy’s local content strategy.
As BW Energy advances toward its final investment decision, expected in 2026, the success of the Kharas-1 appraisal well could anchor Namibia’s emergence as a gas-based power exporter and stabilise domestic electricity supply for decades to come.
