Decision near on Maromba oil project offshore Brazil
What is FID?
A final investment decision (FID) is the final decision to invest in a project, typically made by the board and executive committee. At this point, major risks have been mitigated and concerns addressed. The project then progresses to the execution phase - exploration and production.
Definition by Wood Mackenzie
BW Energy plans to issue FID next month for the Maromba field development in the Campos Basin offshore Brazil, according to its latest quarterly report.
The company plans to combine the reuse an existing FPSO with a jackup drilling platform and dry trees, at an estimated cost of $1.2 billion. Phase 1 will target low-risk oil at Maastrichtian level, with a projected production capacity of 50,000 bbl/d.
Project financing is close to completion, with orders for long lead items expected to be placed by March. All installations should be in place by third-quarter 2027.
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Offshore Namibia, the company expects to spud an appraisal well during the third quarter this year close to the Kudu gas field offshore Namibia on the Kharas Prospect in the northwest of the license.
Here, long-lead items have been secured. BW Energy is still assessing rig options and is in talks with other operators in the offshore Orange Basin on shared use of available resources.
Development planning and concept selection continues for the Kudu gas-to-power project.
Offshore Gabon, the company and its partners plan to acquire 3D seismic over the Niosi Marin and Guduma Marin exploration blocks, both awarded last year.
BW Energy in the news
BW Maromba
About the Author
Jeremy BeckmanJeremy Beckman
Staff Writer / Editor, Europe
Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.