OSLO, Norway—BW Energy has signed an International Reserve Based Lending facility of up to $300 million.
The company will use the funds to finance the further development of the Dussafu license offshore Gabon.
Five international banks are involved, with the facility lasting for six years.
“The facility provides additional liquidity to finance our development of the Dussafu license in Gabon and drive future production growth and long-term value creation from this highly attractive oil producing area,” said Carl K. Arnet, CEO of BW Energy.
