BW Energy follows Gabon blueprint with Maromba oil development offshore Brazil
BW Energy has taken FID on a $1.5 billion development of the Maromba Field offshore Brazil, in the southern part of the Campos Basin.
The company plans to convert a drilling jackup to an integrated drilling and wellhead platform (WHP) with up to 16 well slots, installed in about 150 m of water.
Production will be transferred via production/test flowlines to the spread-moored BW Maromba, currently undergoing refurbishment and extension works at the COSCO yard in China, before being offloaded to shuttle tankers.
Over the life of the field, BW Energy aims to produce 123 MMbbl from 500 MMbbl of in-place oil proven in Maastrichtian sands, with startup by the end of 2027 and peak production of 60,000 bbl/d.
Initially, the company is looking to drill six Maastrichtian horizontal production wells with dry trees and artificial lift provided by downhole electric submersible pumps (ESPs). A second six-well campaign would lead to further development through the in-place field infrastructure, with appraisal and testing of other reservoir horizons.
Drilling should be completed by the end of 2028.
The company estimates total investments of ~$1.2 billion for the initial development and a further ~$0.3 billion for the second drilling campaign.
Over the longer term, the company sees potential to discover additional near-field reserves in Eocene and Carbonate intervals via extensive appraisal drilling. If the test program is successful, this could lead to expansion of the facilities at some point for a future development.
CEO Carl Arnet said the combination of a repurposed jackup platform and FPSO replicates the company’s approach to its multiple field developments on the Dussafu license offshore Gabon.
“The repurposing of existing energy infrastructure enables reduced investments and shorter time to first oil with significantly reduced greenhouse-gas emissions in the development phase, as compared to installing new production assets,” he said.
The FPSO, designed to store 1 MMbbl of heavy crude, will have an oil production capacity of 65,000 bbl/d and water treatment capacity of 85,000 bbl/d. It was towed to China for the refurbishment in late 2023.
BW Energy has an agreement to acquire a jackup with complete leg extensions for $107.5 million. This will undergo a limited conversion before heading to Maromba for the installation.
Maromba is roughly 100 km southeast of the city of Cabo Frio. Previous operator Petrobras drilled nine wells on the license between 1980 and 2006, with eight of the wells encountering oil in various reservoirs.
BW Energy acquired 100% ownership in 2019 for $115 million, of which $85 million will be paid to the sellers on the fulfilment of certain milestones. Magma Oil holds a 5% back-in right in the Maromba license, which is it is set to exercise following first oil.
While following all steps of the approval process with Brazilian’s regulator (ANP) and its environmental agency (IBAMA), BW Energy is now free to start contracting of long-lead items and services, and to conclude financing agreements.
Elsewhere offshore Brazil, the company continues to work on measures to stabilize the performance of the FPSO on the Golfinho Field and is drawing up plans for future well workovers. Last month it took FID on the incremental $107 million Golfinho Boost project, which should raise production by 3,000 bbl/d and access 12 MMboe of additional reserves, while also increasing uptime and reducing field opex.
First oil should follow during the second half of 2027.
Offshore Namibia BW Energy expects to spud an appraisal well later this year on the Kharas prospect in the northwest part of the Kudu license. It has procured long-lead equipment items but continues to review available rigs.
