Exploration & Production

Gas-purchase agreement buoys Kudu gas hopes

A purchase agreement for gas from the Kudu field has left operator BW Offshore hopeful of reaching an FID on the project in H1 2018 A purchase agreement for gas from the Kudu field has left operator BW Offshore hopeful of reaching an FID on the project in H1 2018.
By Felix Janvrin 12 January 2018 0 29083
Power lines in Namibia. (Nampower)

Kudu gas field operator BW Offshore is seeking to reach an FID for the upstream portion of the long-delayed Namibian venture in the first half of 2018, contingent on discussions with a financing partner, the company has said.

BW still faces counterparty risk given Namibia’s sluggish economic prospects, and it will need to obtain insurance guarantees from third-party institutions to tie up the plan, sources have told Interfax Natural Gas Daily

The company signed a gas-purchase agreement (GPA) with Namibia’s state electricity company, NamPower, at the end...