BW Energy is in discussions with approximately 50 companies over a potential investment in Namibia’s Kudu gas project, but expects the process of bringing in new partners to be completed only in the second half of 2027.
The company disclosed in its third-quarter 2026 investor presentation, released on 29 October, that it had signed approximately 20 confidentiality agreements as part of its efforts to attract investors to the offshore project.
The anticipated completion date includes obtaining government approvals, indicating that negotiations and regulatory processes could continue well into next year.
BW Energy did not identify the companies involved in the discussions, disclose the size of the interest it intends to sell or indicate whether any binding offers have been received.
The farm-down process, through which an existing licence holder sells part of its interest to another investor, is intended to bring additional partners into the project.
The latest disclosures provide a clearer indication of the scale of investor interest being explored by BW Energy, although the company has yet to announce a completed transaction.
BW Energy is also highlighting Kudu’s potential beyond natural gas as it seeks partners, describing the project as a large-scale shallow-water opportunity with discovered resources and additional potential for liquid hydrocarbons.
The company said the results of the Kharas-1A exploration well had been fully integrated into its geological assessment, identifying three key plays with oil and gas potential.
According to BW Energy, the well confirmed multiple petroleum source rocks, light oil and liquids, strengthening its assessment of the wider area’s hydrocarbon potential.
The findings form part of the company’s efforts to position Kudu as an investment opportunity that could offer exposure to both natural gas and liquid hydrocarbons.
However, the presentation did not provide new estimates of recoverable oil resources or announce a commercial development plan for the liquids potential.
Alongside the search for investment partners, BW Energy confirmed that discussions with the Namibian government over the proposed Kudu gas-to-power development remain active.
The project has long been associated with plans to use offshore natural gas to generate electricity in Namibia, but its development remains dependent on commercial arrangements and investment decisions.
The latest presentation did not provide a date for a final investment decision, the start of construction or the commencement of gas production.
BW Energy nevertheless continues to regard Kudu as a strategic position in the Orange Basin, which has attracted growing international attention following offshore exploration and appraisal activity.
The company also pointed to recent transactions in the basin as evidence of the wider industry’s interest in Namibian petroleum opportunities.
The immediate focus at Kudu remains securing investment partners and progressing discussions with the government, with the second half of 2027 now identified as the expected period for completing the farm-down process, subject to the necessary approvals.
