(OM) BW Energy has issued updates on its development projects offshore Gabon and Brazil in its latest results statement.
BW Energy has issued updates on its development projects offshore Gabon and Brazil in its latest results statement.
In the Dussafu production sharing contract offshore Gabon, first-half production from the Tortue Field was down to about 11,100 bbl/d, reflecting the impacts of natural decline, increased downtime for maintenance and limitations to gas-lift capacity.
The gas-lift issue will continue to affect operations until a new compressor is installed toward the end of first-quarter 2023.
The Hibiscus/Ruche development should deliver first oil around the same time, later than originally planned due to the delayed delivery of the contracted Borr Norve jackup, compounded by the need to change out the rig’s BOP.
Earlier this month, BW Energy signed an international reserve based lending facility of up to $300 million, which it plans to use initially to finance further development of the Dussafu license.
In April, the company committed to proceed with the Maromba oil development offshore Brazil, signing an agreement to purchase the FPSO Polvo from BW Offshore for $50 million.
The vessel, which will be upgraded and redeployed to the field, is in layup in Dubai following a condition assessment, awaiting yard selection.
BW Energy plans an initial three-well campaign, with first oil in 2025, followed by three further wells in 2027. The staged approach should allow for improved reservoir monitoring and optimization of the second set of wells.
At peak, the company is targeting 30,000 bbl/d to 40,000 bbl/d. However, final investment decision remains subject to completion of the project financing.
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