BW Energy has secured an extension for the Golfinho licence production phase, which is now set to continue until 2042.
This development follows Brazilian oil and gas regulator ANP’s approval of the company’s field development plan in November 2024.
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The Golfinho concession, previously scheduled to end in 2031, is located in the Espírito Santo Basin.
BW Energy operates with a 100% working interest in the Golfinho licence, following the acquisition of the Golfinho and Camarupim clusters in August 2023.
The area, situated in water depths ranging from 1,300 to 2,200m, produces hydrocarbons to the floating production storage and offloading (FPSO) vessel Cidade de Vitória, which BW Energy has operated since November 2023.
The Golfinho field has been in production since 2007.
BW Energy CEO Carl K. Arnet said: “The extension supports our long-term plans for developing the Golfinho field, initially through improved operational performance of existing infrastructure and later targeting several proven low risk in-field development opportunities. We see a significant potential for long-term value creation at Golfinho.”
BW Energy also announced a significant oil discovery at the Bourdon prospect in the Dussafu licence offshore Gabon earlier last month.
The discovery features approximately 34m of pay within a 45m hydrocarbon column in the Gamba formation, marking the largest hydrocarbon column found in the Dussafu licence to date.
The well, drilled by the Norve jack-up rig to a total depth of 4,135m, will allow BW Energy to book additional reserves not accounted for in its 2024 Statement of Reserves.
Bourdon is located 15km west of the BW Adolo FPSO and 7.5km south-east of the MaBoMo facility.
Additionally, in June 2024, BW Energy confirmed a substantial oil discovery in the Hibiscus area offshore Gabon, following the DHIBM-7P pilot well drilling and logging.
Preliminary evaluations suggested a potential increase in mid-case gross recoverable reserves of approximately 8–12 million barrels of oil.
