BW Energy Makes Oil Find Offshore Gabon
BW Energy Limited has announced that it has made an oil discovery in the Hibiscus North exploration well (DHBNM-1) in the Dussafu Block, offshore Gabon.
During drilling operations at Hibiscus North, the Gamba was encountered at a depth of 9,166 feet and encountered approximately 44 feet of oil-bearing reservoir in the Upper Gamba sandstone, the company noted. BW Energy said the determination of the overall hydrocarbon column is pending open hole wireline logging operations which will be conducted after drilling the well to the planned total depth.
The well is located approximately four miles north-northeast of the Hibiscus discovery well DHIBM-1 in approximately 377 feet of water depth. It will be drilled to a planned total depth of approximately 11,482 feet. The discovery is expected to add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be approximately 105 million barrels.
BW Energy is the operator of the Dussafu Block with a 73.5 percent interest. Panoro Energy holds a 17.5 percent stake in the asset and the Gabonese Oil Company holds the remaining nine percent interest.
Total gross Dussafu production for 2021 is projected to be around 12,800 barrels per day, compared to 14,100 barrels per day on average in 2020, BW Energy highlighted in its latest results statement, which was published earlier this month. Oil from Dussafu is a good quality crude that generally trades on an equivalent basis to Brent, BW Energy notes on its website, adding that the crude is typical of the region and is sweet with an API gravity of 28 to 30 degrees.
BW Energy, which was established in 2016, describes itself as a growth focused oil and gas company involved in the acquisition, development and production of proven oil and natural gas fields.
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