BW Energy Ltd. has entered a $208 million project-level lease financing for the Akoum wellhead platform (WHP) to be installed on Bourdon field in the Dussafu license, offshore Gabon.

Following FID on the Bourdon development in May, conversion of the Akoum rig into a 12-slot wellhead platform is progressing to plan. It will provide capacity for future planned development phases in the area, with first oil targeted in first-quarter 2028.

Replacing a previously announced short-term financing agreement, the new 12-year lease with Minsheng Financial Leasing Co. Ltd (MSFL) covers 100% of the platform's capital expenditure and has a firm term of 8 years, with an option to extend by a further 4 years.

Lease costs are shared by the Dussafu license partners in line with their participating interests, with ownership of the platform passing to the license at the end of the lease, BW Energy said.

The Dussafu Marin permit is in the Ruche Exclusive Exploitation Area (Ruche EEA) and covers 850 sq km that includes six discovered oil fields as well as leads and prospects in a proven oil and gas play fairway within Southern Gabon basin.

Hibiscus and Ruche fields are being developed together and tied back to the BW Adolo FPSO stationed at Tortue field.

BW Energy is operator at Dussafu Marin (73.5%) with partner Panoro Energy ASA (17.5%) and Gabon Oil Co. (9%).