BW Energy: Drilling operations completed on first Hibiscus production well

Drilling operations completed on first Hibiscus production well 

BW Energy has completed the drilling and completion operations on DHIBM-3H, the first production well of the Hibiscus / Ruche Phase 1 development campaign in the Dussafu licence offshore Gabon. Responsibility for the DHIBM-3H well has been handed over to the production team which will finalise preparations for production start-up. First oil from the well is expected in early April. Commissioning and start-up of the new gas lift compressor will follow the first oil activities on the FPSO. 

The DHIBM-3H well has been drilled from the BW MaBoMo production facility to a depth of 3,883 metres into Gamba sandstone reservoir in the Hibiscus field. Drilling operations began at the start of the year with batch setting of conductors and surface casing on three Hibiscus wells. In addition, a further three conductors have been batch set on slots planned for Ruche / Hibiscus fields. The drilling campaign followed the successful installation of the production facility, risers, and pipeline. DHIBM-3H drilling results (drain length and reservoir properties) are in line with expectations. The oil produced at Hibiscus / Ruche will be processed on the BW Adolo FPSO together with the established Tortue production before offloading to oil tankers. 

For further information, please contact: 

Knut R. Sæthre, CFO BW Energy
+47 91 11 78 76 or ir@bwenergy.no 

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 main assets are 73.5% of the producing Dussafu Marine Permit offshore Gabon, 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 428 million barrels at the start of 2023. 

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.