Offshore staff
OSLO, Norway – BW Energy is proceeding with the Maromba development in the Campos basin offshore Brazil, after agreeing to purchase the FPSO Polvo from BW Offshore for $50 million by mid-2023.
Recently the vessel ended its charter on the Polvo field, which is close to Maromba field and with similar oil and reservoir characteristics.
BW Energy is now holding talks with relevant shipyards concerning a refurbishment/life extension for the re-deployment. The company plans to modify the vessel to handle production from up to 10 wells, and 1.2 MMbbl of crude storage capacity.
Its total liquids capacity will be 85,000 b/d, with water treatment capacity of 75,000 b/d.
According to the company, the agreement to purchase the FPSO, instead of entering a traditional lease and operate contract, is due in part to Brazilian tax legislation issues.
The company plans a phased subsea development with an initial three horizontal wells on Maromba, leading to first oil in 2025. A second three (horizontal) well campaign would follow in 2027: the investment decision remains subject to completion of project financing, although Brazilian regulator ANP has approved the development plan.
BW Energy CEO Carl K. Arnet said: “We have worked to optimize the Maromba development plan since the acquisition in 2019 and during the Covid-19 pandemic. This includes technical evaluations, full-spectrum analysis of geological, seismic and well data, as well as extensive reservoir modeling and simulations…
“A development in stages enables improved reservoir monitoring and optimization of the second drilling campaign. Total oil production at peak is expected to be between 30-40,000 b/d…
“The technical evaluation revealed that water injection is not required for the first three wells and is a contingency for the second drilling campaign. Extensive work has also confirmed that dual electric submersible pumps offer the best artificial lift solution with extended life and reduced workover frequency.”
The subsea layout is designed to keep down costs and facilitate future expansions.
“We know the vessel well and have extensive in-house competencies and capabilities in planning and executing such a repair and life extension project,” Arnet added. “Re-using existing energy infrastructure enables reduced investments, shorter time to first oil and significantly reduced CO2 emissions in the development phase as compared to installing new production assets.”
Maromba is in 160 m (525 ft) water depth. Nine wells were drilled on the license between 1980 and 2006, with oil proven in eight of the wells across various reservoirs. Estimated recoverable reserbes are 100 MMbbl.
BW Energy acquired 100% ownership of Maromba for $115 million, of which $85 million remains to be paid to the sellers on the attainment of pre-defined milestones.
04.25.2022
