BW Energy has invested approximately N$518.4 million (US$30 million) in drilling the Kharas appraisal well offshore Namibia during the third quarter of 2025, as part of its ongoing exploration and appraisal programme in the country.
According to the company’s latest quarterly results, drilling at the Kharas well was completed ahead of schedule, with logging operations commencing shortly before the company’s earnings call.
BW Energy said results would be shared once the logging phase is complete.
“Beyond Maromba, we invested approximately US$30 million in the Kudu well, with the residual spending at Golfinho Boost and some early planning costs for Maromba Phase 2 at Dussafu. I’d like to point out that our intention is not to exit quarters with this level of cash on hand,” said Chief Financial Officer Thomas Young.
The investment marks a key step in BW Energy’s efforts to assess Namibia’s offshore gas potential, with the Kharas well forming part of the company’s broader Kudu gas project.
According to BW Energy CEO Carl Arnet, the company also holds a 20% stake in an onshore exploration venture with ReconAfrica, underscoring its commitment to supporting Namibia’s energy ambitions.
Arnet said the initiative aligns with BW Energy’s goal of being “a good corporate citizen” and positions the firm for future participation in gas-to-power developments.
The company said its Namibian projects form a crucial part of BW Energy’s long-term diversification strategy, complementing its producing assets in Gabon and Brazil, while reinforcing confidence in Namibia’s growing role as a regional energy hub.
“It has good local support. The other thing is, of course, it’s a good hedge for us with interests in gas-to-power in Namibia in the longer term. So those are the main reasons for being interested in this exploration programme. And we have a 20% stake in the asset,” Arnet said.
