BW Energy has increased recoverable reserves estimates for the Hibiscus field, offshore Gabon, following the recent oil discovery on the northern flank of the field.
BW Energy has now concluded the drilling and the logging of the DHIBM-7P pilot well, confirming a substantial oil discovery with good reservoir quality and a material uplift to the Hibiscus area.
The company’s preliminary evaluation indicates an increase in Hibiscus gross recoverable reserves (mid-case) of approximately 8 million barrels of oil to 12 million barrels of oil.
BW Energy added it plans to complete the well as a development well later in 2024.
The DHIBM-7P pilot was drilled from the MaBoMo production platform to a total depth of 3,941 meters.
The target area is located approximately 1.5 kilometres north-northwest of the MaBoMo and was drilled by the Borr Drilling's Norve jack-up rig.
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, the company said.
The field is located in the Dussafu license, where BW Energy Gabon has an operated ownership interest of 73.5%, while Panoro Energy’s ownership is 17.5%, with Gabon Oil Company’s holding the remaining interest of 9%.