BW Energy finds oil at Hibiscus South prospect offshore Gabon

BW Energy Ltd. discovered commercial volumes of oil in the Hibiscus South prospect and plans to complete the appraisal well as a production well in early 2024.

The well data confirms that the Hibiscus South structure is a separate accumulation with a deeper oil-water contact than nearby Hibiscus field, the company said in a release Nov. 6.

Preliminary evaluation indicates gross recoverable reserves of 6-7 million bbl of oil and about 16 million bbl of oil in place, in line with the mid-case pre-drill expectations reported prior to the start of drilling operations.

The DHBSM-1 appraisal well was drilled from the MaBoMo production platform to a total depth of 6,002 m. The target area lies about 5 km southwest of the MaBoMo and was drilled by the Borr Norve jack-up rig.

Evaluation of logging data, sample examination and formation pressure measurements confirm about 20 m of pay in an overall hydrocarbon column of 26.5 m in the Gamba formation, the company said.

“The successful appraisal of the Hibiscus South satellite structure represents a low-cost and low-risk expansion of the Dussafu production and reserve base. We look forward to rapidly bringing these high-value barrels into production,” said Carl K. Arnet, chief executive officer of BW Energy. “The result also confirms the significant potential of the Dussafu license where we have multiple additional future prospects.”

BW Energy is operator of the producing Dussafu Marine license offshore Gabon with 73.5% interest.