Maromba

About the asset

Discovered in 1980 and hailed as one of the largest finds of its decade, Maromba is located in the Campos Basin offshore Brazil. The field holds an estimated 1 billion barrels of oil in place, with 123 million barrels of 2P reserves targeted in the initial phases. BW Energy owns 100% working interest in the license, positioning the company to fully capture the value of this world-class resource.

The development concept focuses on efficiency and cost optimization, building on the proven approach BW Energy successfully implemented in Gabon. It combines a repurposed jack-up rig converted into a wellhead platform with dry-tree wells and an upgraded FPSO. This approach significantly reduces capital expenditure compared to newbuild solutions, enabling faster execution and improved project economics. The first phase includes six production wells in the Maastrichtian reservoir, followed by six additional wells to add production and unlock further upside.

Maromba is expected to reach a plateau of around 60,000 barrels per day, more than doubling BW Energy’s operated production. With a breakeven of approximately $40 per barrel and an IRR above 30% at $60 oil, the project ranks among the most competitive offshore developments globally. Beyond its strong economics, Maromba offers a long runway for growth, with potential to replicate the success of BW Energy’s phased development strategy in Gabon.

By redeploying existing assets and applying a disciplined investment approach, BW Energy is set to deliver first oil within 30 months of project sanction – creating lasting value for shareholders and contributing to Brazil’s energy future.