BW Energy FIDs Gabon and Brazil projects targeting 100,000 boe/d by 2028

The phased Bourdon development is in the Dussafu license offshore Gabon. Phase 1 is designed to recover 25 MMboe of 2P reserves, with first oil targeted in first-quarter 2028.

The company plans to convert the former Akoum rig to a 12-slot wellhead platform. This will produce initially from three wells, with spare capacity under future phases to add potentially ~200 MMboe in place near the Bourdon accumulation.

BW Energy estimates its share of the capex at $300 million, with pre-first-oil expenditure of ~$100 million supported by a recent sale-and-leaseback agreement with Chinese investment group Minsheng.

The other partners in the license are Panoro Energy and Gabon Oil Co.

Golfinho drilling campaign offshore Brazil

The program will comprise four new wells on the Golfinho license and one on the Camarupim license, all tied back to the Golfinho FPSO, and it also involves throughput into an existing offshore gas export pipeline from the FPSO to shore.

Of the company’s estimated capex of $450 million, $170 million has been allocated to long-lead equipment items and the remainder for optional spending up to six months ahead of first oil.

The budgeted development cost is up to $9/bbl.  

Targeting 100,000 boe/d production by 2028

“These two projects add highly profitable production in licenses with proven reserves and multiple growth opportunities," CEO Carl K. Arnet said. "Through the repurposing of existing energy assets and a phased approach, BW Energy has optimized the development solutions supported by low-cost infrastructure-backed financing. This yields high return-projects, increasing our net production to above 100,000 boe/d in 2028 and positioning us to sustain this level into the next decade.”