BW Power mentioned it has made a remaining funding resolution on the Golfinho Enhance venture, focusing on so as to add round 3,000 barrels per day (bpd) of incremental oil manufacturing on the Golfinho discipline offshore Brazil beginning in 2027.
The $107 million venture contains a number of measures aimed toward boosting manufacturing effectivity and growing recoverable reserves by roughly 12 million barrels, the corporate mentioned in a information launch.
The measures embody upgrades to the subsea boosting system by changing gasoline lifts with electrical submersible pumps on the seabed, reopening of shut-in wells, umbilicals substitute, improved discipline logistics and floating manufacturing, storage, and offloading (FPSO) capability enhancements, in line with the discharge.
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The Golfinho discipline is situated within the Espírito Santo Basin at water depths between 2624.7 and 5577.4 ft (800 and 1,700 meters). BW Power is the operator with a one hundred pc working curiosity within the Golfinho license following the August 2023 acquisition of the Golfinho and Camarupim Clusters.
Hydrocarbons are produced on the FPSO Cidade de Vitória, which BW Power acquired and has operated since November 2023. The sphere has been producing since 2007, the corporate mentioned.
“BW Power continues to strengthen its place in Brazil via focused measures on the Golfinho discipline to extend manufacturing, uptime and operational independence. The deliberate low-risk enhancements to discipline belongings and operations supply very enticing returns and are anticipated to assist unlock materials long-term worth creation for the corporate and its stakeholders,” BW Power CEO Carl Arnet mentioned.
Earlier within the month, BW Power obtained approval for the extension of the Golfinho license from Brazilian oil and gasoline regulator ANP.
The manufacturing section below the Golfinho concession contract was prolonged to 2042 from 2031, following ANP’s approval of the corporate’s discipline growth plan in November 2024, BW Power mentioned.
For the primary quarter, BW Power reported web manufacturing of three.2 million barrels of oil, equal to 36,000 bpd, from the Dussafu licence in Gabon and the Golfinho discipline.
Final month, the corporate introduced a “substantial oil discovery with good reservoir high quality” on the Bourdon prospect within the Dussafu licence offshore Gabon.
Analysis of logging knowledge and formation stress measurements confirmed roughly 112 ft (34 meters) of pay in an total hydrocarbon column of 148 ft (45 meters) within the Gamba formation, making it the biggest hydrocarbon column found to this point within the Dussafu license, BW Power mentioned in a separate assertion.
The nicely was drilled by the Norve jack-up rig to a complete depth of 13,566 ft (4,135 meters), the corporate acknowledged, including that the invention will allow it to e-book extra reserves not included in its 2024 assertion of reserves.
“The Bourdon appraisal nicely once more confirms the numerous useful resource potential of the Dussafu license, which holds a number of extra prospects,” Arnet mentioned. “We’ll now rigorously assessment the drilling outcomes, however preliminary knowledge signifies the potential for establishing a brand new growth cluster with a manufacturing facility following the MaBoMo blueprint. We’re evaluating a second sidetrack to additional appraise the invention”.
Bourdon is situated roughly (9.3 miles) 15 kilometers west of BW Adolo FPSO and 4.7 miles (7.5 kilometers) southeast of the MaBoMo facility.
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