Electrical problems negatively impact BW Energy’s Gabonese oil production
(WO) – BW Energy, as the operator of the Dussafu Marine license in Gabon and the Golfinho cluster offshore Brazil, provided an update on its operations and development.
Gross production from the operated assets was 3,031,000 boe in the fourth quarter of 2023. This includes production from the Tortue and Hibiscus fields in the Dussafu license (73.5% working interest) and the first full quarter of production from the Golfinho field after assuming 100% ownership in August.
DUSSAFU. Gross production from the Dussafu license averaged 22,500 bopd in the quarter, amounting to a total gross production of 2,073,000 MMbpd for the period. Production was impacted by electrical issues affecting the ESPs’ (electrical submersible pumps) on the Hibiscus field. BW Energy completed two liftings in the quarter, one in October of approximately 960,000 bbl at a realized price of $90 per barrel and one in December of approximately 720,000 bbl at $75 per barrel.
BW Energy’s share of gross production was approximately 1.3 MMbpd. The net sold volume, which is the basis for revenue recognition in the financial statement, was approximately 1.86 MMbpd, including 187,000 bbl of state profit oil with an over-lift position of 228,000 bbl at the end of the period.
The company has committed to identify and resolve the electrical integrity issues affecting the ESPs. Currently, the DHBM-6H well is producing on natural flow. The DHBM-4H well is producing on ESP following completion of a workover and ESP changeout, and preparations are ongoing for restarting DHBM-3H well following a similar process. The program of diagnosis, repair and replacement of the ESPs is well underway.
GOLFINHO. Gross production from the Golfinho field averaged 10,400 bopd in the fourth quarter, amounting to a total production of 958,000 bbl in the period. There were two liftings in the quarter, one in November of 521,500 bbl at a realized price of $84 per barrel and the second in December of 500,000 bbl at $77 per barrel, with remaining inventory of approximately 325,000 barrels at the end of the period
Lead image source: BW Energy
