BW Energy has reached a final investment decision (FID) for the Golfinho Boost project in Brazil, with plans to elevate production efficiency and augment oil output by approximately 3,000 barrels per day (bpd), starting from 2027.
The initiative, with a total investment of $107m, is set to enhance operations at the Golfinho field offshore Brazil.
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The project aims to boost production efficiency and add an estimated 12 million barrels (mbbl) to recoverable reserves.
These improvements include upgrading the subsea boosting system by substituting gas lift with electrical submersible pumps at the seabed, reactivating closed wells and replacing umbilicals.
The project also includes refining field logistics and expanding floating production storage and offloading unit (FPSO) capacity.
BW Energy CEO Carl K. Arnet said: “BW Energy continues to strengthen its position in Brazil through targeted measures on the Golfinho field to increase production, uptime and operational independence.
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By GlobalData“The planned low-risk enhancements to field assets and operations offer very attractive returns and are expected to help unlock material long-term value creation for the company and its stakeholders.”
Located in the Espírito Santo Basin, the Golfinho field spans water depths ranging from 800m to 1,700m. It has been active since 2007.
BW Energy holds a 100% working interest in the Golfinho licence, a position solidified following the acquisition of the Golfinho and Camarupim Clusters in August 2023.
Since November 2023, hydrocarbons from the field have been processed by the FPSO vessel Cidade de Vitória, which is operated by BW Energy.
BW Energy also confirmed an oil discovery in the Hibiscus area offshore Gabon in June of the previous year.
This followed the successful drilling and logging of the DHIBM-7P pilot well, which reached a total depth of 3,941m from the MaBoMo production platform.
