BW Offshore and Panoro Energy have agreed on a final investment decision (FID) for the Dussafu project offshore Gabon, with first oil set for next year.
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Map of Dussafu, from Panoro. |
Panoro subsidiary Pan Petroleum approved BW's proposed development plan, which consists of two initial horizontal wells at Tortue in the Gamba and Dentale reservoirs. An appraisal sidetrack well will also be drilled in the northwest of the Tortue field.
The two production wells will be tied back to a leased floating production, storage and offloading (FPSO) vessel via subsea trees and flowlines. First oil is targeted for 2018.
The Dussafu joint venture partners are currently commissioning an independent review by Netherland Sewell and Associates to update the estimates and to move these contingent resources to reserves further to the recent final investment decision.
"The FID is a very important milestone for Panoro and first oil at Dussafu remains on track to be achieved during 2H 2018," says John Hamilton Panoro CEO. "It is a significant step in the execution of Panoro's strategy to realize Dussafu's true potential and to continue unlocking value for our shareholders".
In April, BW Offshore completed a deal with Harvest Natural Resources for its stake in the Dussafu production sharing contract (PSC) offshore Gabon.
Dussafu is operated by BW Energy Gabon, a joint venture between BW Offshore (66.67%) and BW Group wholly owned subsidiary Maple Co. Ltd. (33.33%), with 91.67%. Panoro holds the remaining 8.33%.
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