Latest news with #MaBoMo
Yahoo
15-04-2025
- Business
- Yahoo
BW Energy commits $107m for the Golfinho Boost project in Brazil
BW Energy has reached a final investment decision (FID) for the Golfinho Boost project in Brazil, with plans to elevate production efficiency and augment oil output by approximately 3,000 barrels per day (bpd), starting from 2027. The initiative, with a total investment of $107m, is set to enhance operations at the Golfinho field offshore Brazil. The project aims to boost production efficiency and add an estimated 12 million barrels (mbbl) to recoverable reserves. These improvements include upgrading the subsea boosting system by substituting gas lift with electrical submersible pumps at the seabed, reactivating closed wells and replacing umbilicals. The project also includes refining field logistics and expanding floating production storage and offloading unit (FPSO) capacity. BW Energy CEO Carl K. Arnet said: 'BW Energy continues to strengthen its position in Brazil through targeted measures on the Golfinho field to increase production, uptime and operational independence. "The planned low-risk enhancements to field assets and operations offer very attractive returns and are expected to help unlock material long-term value creation for the company and its stakeholders.' Located in the Espírito Santo Basin, the Golfinho field spans water depths ranging from 800m to 1,700m. It has been active since 2007. BW Energy holds a 100% working interest in the Golfinho licence, a position solidified following the acquisition of the Golfinho and Camarupim Clusters in August 2023. Since November 2023, hydrocarbons from the field have been processed by the FPSO vessel Cidade de Vitória, which is operated by BW Energy. BW Energy also confirmed an oil discovery in the Hibiscus area offshore Gabon in June of the previous year. This followed the successful drilling and logging of the DHIBM-7P pilot well, which reached a total depth of 3,941m from the MaBoMo production platform. "BW Energy commits $107m for the Golfinho Boost project in Brazil" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
07-03-2025
- Business
- Yahoo
BW Energy: Substantial oil discovery made on the Bourdon prospect
Substantial oil discovery made on the Bourdon prospect BW Energy is pleased to announce a substantial oil discovery with good reservoir quality on the Bourdon prospect in the Dussafu Licence offshore Gabon. Evaluation of logging data and formation pressure measurements confirm approximately 34 metres of pay in an overall hydrocarbon column of 45 metres in the Gamba formation, making it the largest hydrocarbon column discovered to date in the Dussafu licence. The well was drilled by the Norve jack-up rig to a total depth of 4,135 metres. The discovery will enable the Company to book additional reserves not included in its 2024 Statement of Reserves. 'The Bourdon appraisal well again confirms the significant resource potential of the Dussafu licence, which holds multiple additional prospects,' said Carl K. Arnet, CEO of BW Energy. 'We will now carefully review the drilling results, but initial data indicates the potential for establishing a new development cluster with a production facility following the MaBoMo blueprint. We are evaluating a second sidetrack to further appraise the discovery'. Bourdon is located approximately 15 kilometres west of BW Adolo FPSO and 7.5 kilometres southeast of the MaBoMo further information, please contact: Brice Morlot, CFO BW Energy +33.7.81.11.41.16 ir@ 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, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 ("PEL 73") in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of information is considered inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Regine Andersen, 7 March in to access your portfolio
