BW Energy has made a ‘substantial’ oil discovery with good reservoir quality in the DHIBM-7P pilot well drilled to appraise the northern flank of the Hibiscus field, offshore Gabon.
BW Energy said it plans to complete the well as a production well later in 2024.
The DHIBM-7P pilot was drilled from the MaBoMo production platform to a total depth of 3,941 metres.
The target area is located approximately 1.5 kilometres north-northwest of the MaBoMo and was drilled by the Borr Norve jack-up rig.
Evaluation of logging data, sample examination and formation pressure measurements confirm approximately 24 metres of pay in an overall hydrocarbon column of 37 metres.
Notably, the hydrocarbon column extends across the boundary between the Gamba and the underlying Dentale formation. This is the first example of a common Gamba-Dentale hydrocarbon accumulation in Hibiscus Field, according to the company.
“This is yet another confirmation of the significant potential of the Dussafu licence, which BW Energy is rapidly unlocking through low-cost and low-risk development activity,” said Carl K. Arnet, CEO of BW Energy.
Preliminary evaluation indicates a notable increase in both the volume of oil in place and gross recoverable reserves. As final data becomes available, technical personnel will be engaged in updating the analysis for publication of the uplift at a future date.
The next operation will be to place a production well (DHBSM-2H) in the northern flank of the Hibiscus South field that was recently successfully appraised.
The Bourdon prospect test well (DBM-1) will be the last operation in the current campaign, providing the aforementioned activities are performed within time expectations, Panoro Energy, a partner in the Dussafu license said.
“We are very pleased with the outcome of our latest drilling success, our second such positive result in less than a month. Once the final data from the well becomes available we will work to delineate the extent of this exciting new discovery and provide an update on estimated reserves as soon as practically feasible.
“What is apparent is that we have opened up another fast-track development opportunity where we will leverage the existing production infrastructure nearby to rapidly develop these high-margin barrels cost effectively as part of the current campaign,” said John Hamilton, CEO of Panoro Energy.
BW Energy Gabon SA's operated ownership interest in the Dussafu license is 73.5%, Panoro Energy ownership is 17.5% and Gabon Oil Company’s ownership interest is 9%.