Offshore staff
OSLO, Norway — BW Energy has executed a sale and leaseback agreement for the MaBoMo production platform on the Dussafu license offshore Gabon.
The arrangement, with a Minsheng Financial Leasing Co. entity, covers provision of $150 million of gross sales proceeds under a 10-year lease term with an option to repurchase the platform from the end of year seven.
BW Energy plans to direct the freed-up $110 million of liquidity toward further development work offshore Gabon.
On the same Dussafu Marin permit, the DRM-3H production well on the Ruche Field, drilled horizontally from the MaBoMo to a TD of 5,795 m into the Gamba sandstone reservoir, has been completed. Startup should follow delivery of a new electrical submersible pump.
The Borr Norve jackup is drilling the DHBSM-2P pilot well to test the northern part of the recently discovered Hibiscus South Field where the DHBSM-1H production well is already onstream. If successful, BW Energy plans to drill either a second producer well into this extension or use the pilot’s top-hole section to drill a producer in the main Hibiscus area.
Next month the FPSO BW Adolo will undergo a three-week maintenance shutdown.
In the event of a successful outcome, a production well would be drilled into this extension, or the top-hole section of the pilot hole will be utilized to drill a production well in the main Hibiscus area.
05.01.2024
