BW Energy has announced the discovery of commercial volumes of oil in the Hibiscus South satellite prospect offshore Gabon.

The discovery was made through the DHBSM-1 appraisal well, which was drilled to a total depth of 6,002m from the MaBoMo production platform. 

BW Energy said it intends to go back to the well in early 2024 to finish it as a production well.

The target region was drilled by the Borr Norve jack-up rig and is situated around 5km south-west of MaBoMo.

Based on logging data evaluation, sample analysis and formation pressure measurements, there is approximately 20m of pay in an overall hydrocarbon column of 26.5m in the Gamba formation.

According to the preliminary assessment, there are roughly 16 million barrels of oil in place and 6–7 million barrels of gross recoverable reserves.

The estimates are in line with the pre-drill forecasts that were announced before drilling activities started, the company said.

BW Energy added that the well data confirmed that the Hibiscus South structure is a distinct accumulation with a deeper oil-water contact than the neighbouring Hibiscus Field.

As a result, the company will be able to drill one or more further production wells from the MaBoMo platform and book additional reserves that are not currently included in its annual statement of reserves.

BW Energy CEO Carl Arnet 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. The result also confirms the significant potential of the Dussafu licence where we have multiple additional future prospects.”

Earlier in 2023, BW Energy started production from the third well in the Hibiscus/Ruche Phase 1 development.

Hibiscus/Ruche Phase 1 is part of the Dussafu licence offshore Gabon.