BW Energy Secures $208m Project Financing for Gabon Offshore Development

## BW Energy Closes Major Financing Package for Gabon Offshore Project Norway's BW Energy has secured $208 million in project-level financing for the Akoum wellhead platform, a key component of the company's Bourdon oil development located offshore Gabon, according to Splash247. The financing is structured as a 12-year lease agreement with China's Minsheng Financial Leasing, which will cover 100% of the platform's costs. Alongside the project financing, BW Energy has also extended its existing $250 million revolving credit facility by 18 months, strengthening the company's overall liquidity position as it advances the Gabon development. ### Strategic Significance The Bourdon development represents a significant upstream milestone for BW Energy, a company that has built its offshore portfolio through a combination of asset acquisitions and organic development in West Africa. Securing long-term project financing at this scale underscores continued investor confidence in Gabon's offshore oil sector, despite the broader energy transition pressures facing the industry. The involvement of Minsheng Financial Leasing — one of China's largest financial leasing institutions — highlights the continued role of Chinese capital in financing African offshore energy infrastructure, a trend that has gained momentum over the past decade as Western banks have applied tighter environmental, social, and governance (ESG) screens to fossil fuel lending. ### Financial Structure The 12-year lease structure is a common mechanism in offshore project finance, allowing operators to preserve balance sheet flexibility while securing the capital-intensive assets required for deepwater and shelf developments. By financing 100% of the Akoum platform through this arrangement, BW Energy limits its upfront equity exposure while maintaining operational control of the asset. The concurrent extension of the $250 million revolving credit facility provides additional financial headroom as the project moves toward development and production phases. ### Outlook The Bourdon development is expected to add meaningful production capacity to BW Energy's Gabon portfolio, which already includes the producing Dussafu Marin licence. The Akoum wellhead platform will serve as a critical piece of infrastructure enabling the company to unlock reserves from the Bourdon field. Further details on project timelines and anticipated first oil dates are expected as the development progresses through its execution phase. *Source: Splash247*