Maromba, exciting new steps
The Maromba discovery is located approximately 100 kilometers offshore in the southern part of the Campos Basin. The water depth in the area is approximately 160 meters. Maromba lies within a 375 square kilometer "ring-fence" carved out of the former BC-20 exploration block, called the BC-20A concession. Nine wells were drilled in the license between 1980 and 2006, and oil has been found in eight of these across various reservoirs including in the Eocene, Maastrichtian, Albian, Aptian and Barremian levels.
To the east of Maromba lies the Papa Terra Field operated by Petrobras, which was also carved out of the BC-20 exploration block. It is currently producing 16° API oil from an Upper Cretaceous Maastrichtian interval similar to that found in Maromba. The Peregrino Field operated by Equinor lies to the north and is currently producing 14° API oil from the Maastrichtian sandstone.
Following the successful experience at Dussafu, BW Energy plans to develop the Maromba license in phases, thereby minimizing up-front capital expenditure, accelerating time to first production and allowing the production and the supporting organization to grow organically. Phasing will also provide important reservoir performance data which will be used to optimize future development phases.
Phase 1 will target heavy crude oil at API gravity of 16° but with low relative viscosity and sulphur content in the Maastrichtian reservoir. It will consist of three horizontal subsea wells that will be tied back to an FPSO. The wells will be completed with electric submersible pumps (ESPs). Based on Final Investment Decision (FID) being made in the second half of 2022, Phase 1 is expected to begin production in 2025 and will require gross field investments of approximately USD 400 million, based on preliminary estimates.
The Maromba Field Development Plan was submitted to ANP in December 2019 and was approved in August 2020. The Environmental Baseline Survey was completed in the first quarter of 2021 and the Environmental Impact Assessment was submitted to IBAMA in the third quarter of 2021.
Phase 2 development is expected to consist of three to four additional horizontal production wells and two water injectors.
Future upside development may entail further infield drilling into the Maastrichtian reservoir and satellite reservoirs that contain known oil in the Eocene and Maastrichtian. In addition, evaluation of the abundant prospective carbonate reservoirs in the Albian, Aptian and Barremian is envisioned.
Our combined plans for Dussafu and Maromba are estimated to lift net production to BW Energy to more than 50,000 barrels per day in 2025, from a very solid reserve base.
BW Energy Maromba do Brasil Ltda currently holds 100% operated working interest. Magma Oil holds a 5% back-in right in the Maromba license which they are expected to execute upon first oil.