BW Energy starts production from fourth well in the Hibiscus / Ruche development
BW Energy is pleased to announce that production has safely started from the fourth well of the Hibiscus / Ruche Phase 1 development in the Dussafu licence offshore Gabon. Well performance is in line with expectations with current production at approximately 6,500 barrels per day.
The DHIBM-6H well was drilled as a horizontal well from the MaBoMo production facility to a total depth of 4,125 metres into Gamba sandstone reservoir at the Hibiscus field. Following completion, the Borr Norve jack-up has commenced drilling operations on the fifth production well DRM-3H. This will be the first Ruche Gamba well in this drilling campaign.
"The drilling program progresses as planned with strong HSE results and robust production rates which support our expectations of successive production growth in Gabon into 2024. We consistently receive well data confirming excellent reservoir quality, with potential positive implications for Hibiscus reserve estimates,” said Carl Krogh Arnet, the CEO of BW Energy.
As previously communicated, DHIBM-3H and -4H have experienced issues with the ESPs (electrical submersible pumps). Investigations into the cause are ongoing. DHIBM-4H is currently flowing naturally at 2,800 barrels per day, while DHIBM-3H is temporarily not producing while we continue to work solutions. Current gross production from the Dussafu license is now approximately 26,500 barrels per day after the fourth Hibiscus well came onstream.
The drilling campaign targets four Hibiscus Gamba and two Ruche Gamba wells which are expected to bring the total oil production up to approximately 40,000 barrels per day when all wells are completed in early 2024. The oil produced at Hibiscus / Ruche is transported by pipeline to the BW Adolo FPSO for processing and storage before offloading to export tankers.
For further information, please contact:
Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76
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 Permit offshore Gabon, 100% interest in the Golfinho and Camarupim fields in Brazil, a 65% interest in the BM-ES-23 block in Brazil, 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 546 million barrels of oil equivalent at the start of 2023, when including the Golfinho Cluster.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act