BW Energy: Starts production from Hibiscus South field five months after discovery
08 Mars 2024 - 7:30AM
BW Energy: Starts production from Hibiscus South field five months
after discovery
BW Energy: Starts production from Hibiscus South field
five months after discovery
BW Energy is pleased to announce that production has safely
started from the DHBSM-1H well in the Hibiscus South field on the
Dussafu Licence offshore Gabon five months after the initial
discovery was made in November 2023. Production performance from
the well has been in line with expectations and is currently
stabilised at approximately 5,000-6,000 barrels of oil per day.
The DHBSM-1H well was drilled as a horizontal well from the BW
MaBoMo production facility to a total depth of 5,960 metres into
Gamba sandstone reservoir. The well is located approximately 5
kilometres southwest of the MaBoMo in a separate accumulation with
a deeper oil-water contact than the nearby Hibiscus Field.
Following completion, the Borr Norve jackup has commenced drilling
operations on the Ruche sidetrack well (DRM-3H ST1).
“We are very pleased with the safe and efficient execution of
Hibiscus South fast-track development within a few months after
making the initial discovery,” said Carl K. Arnet CEO of BW Energy.
“This represents a material, low-cost and low-risk expansion of the
Dussafu production and reserve base, demonstrating how our phased
development strategy provides the flexibility to rapidly unlock
significant value.”
The DHBSM-1H well is expected to recover 6.6 mmbbls from
approximately 22 mmbbls oil in place, based on third party 2P
estimates.
For further information, please contact:
Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76 or
ir@bwenergy.no
About BW Energy:
BW Energy is a growth E&P company with a differentiated
strategy targeting proven offshore oil and gas reservoirs through
low risk phased developments. The Company has access to existing
production facilities to reduce time to first oil and cashflow with
lower investments than traditional offshore developments. The
Company’s assets are 73.5% of the producing Dussafu Marine licence
offshore Gabon, 100% interest in the Golfinho and Camarupim fields,
a 76.5% interest in the BM-ES-23 block in, a 95% interest in the
Maromba field in Brazil and a 95% interest in the Kudu field in
Namibia, all operated by BW Energy. Total net 2P+2C reserves and
resources were 580 million barrels of oil equivalents at the start
of 2024.
This information is subject to the disclosure requirements
pursuant to section5-12 of the Norwegian Securities Trading
Act.
BW Energy (TG:6BW)
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