BW Energy is a new E&P company with a differentiated strategy for developing proven offshore oil reservoirs with low-risk, phased developments.
BW Energy, which began as the E&P division of BW Offshore in 2016, utilises a differentiated strategy targeting offshore oil and gas reservoirs through low-risk, phased developments.
BW Energy is an affiliate of the BW Group, a global maritime energy transportation and floating gas infrastructure company with an 80-year history. BW Group is currently a significant shareholder in BW Energy, BW Offshore, BW Ideol, BW LNG, BW LPG, BW Epic Kosan, BW Dry Cargo, BW Solar, Hafnia, DHT, Navigator Gas, Corvus and Cadeler.
Eighteen months after the original investment in the Dussafu Marin license offshore Gabon, the Tortue Phase 1 drilling campaign for the first two subsea wells was completed and tied back to the BW Adolo FPSO with first oil achieved in September 2018.
BW Energy acquired the Maromba license, a well delineated field in the Brazilian Campos Basin, from Petrobras and Chevron in March 2019; BW Energy is targeting FID by year-end 2022 and targeting first oil in 2025.
The Hibiscus discovery was made in August 2019, BW Energy updated the previously sanctioned development of the Ruche area. The discovery reported an additional 46 mmbbls recoverable.
BW Offshore transferred ownership interests in the Kudu Petroleum Production Licence 003 ("PPL003") license to BW Energy in fourth quarter of 2019.
Tortue Phase 2 drilling began in fourth quarter of 2019 with two additional subsea wells brought online in early 2020.
On 19 February 2020, BW Energy was listed on the Oslo Stock Exchange.
BW Energy paused all development plans due to COVID-19’s safety and logistical challenges. This allowed the Company to reassess its Hibiscus / Ruche and Maromba development plans.
Conversion of Hibiscus Alpha began in Dubai for installation in Gabon in the fourth quarter of 2022. Tortue Phase 2 was completed in October 2021 and the final two wells brought on to production.
An agreement was completed in the first quarter of 2022 to purchase the semi-submersible drilling rig West Leo for possible conversion to a Floating Production Unit for use in the Kudu field.