BW Energy targeting 2026 for Maromba project startup offshore Brazil

Offshore staff

OSLO, Norway — BW Energy is progressing its planned Maromba field development in the Campos Basin offshore Brazil, the company revealed in its latest results review.

Last April it entered an agreement to purchase the FPSO Polvo from BW Offshore for deployment on Maromba following an upgrade. Discussions continue on financing this process, and planned first oil has now been pushed back to the second half of 2026.

BW Energy is working on a staged development, with an initial three production wells to allow for improved reservoir monitoring and optimization of the second drilling campaign. At peak, the facilities should deliver 30 bbl/d to 40,000 bbl/d.

Maromba is in the BC-20A license in the southern part of the basin, about 100 km southeast of the city of Cabo Frio.

Preparations continue for the proposed acquisition of a 100% operated interest in the Golfinho and Camarupim Clusters and 65% of the BM-ES-23 block from Petrobras, as well as taking over the FPSO Cidade de Vitoria from Saipem.

These include progressing required approvals from the Brazilian authorities, field development planning and buildup of a local organization. Last November the ANP agency approved BW Energy as a deepwater class A operator.

Assuming all transactions complete, the company would gain net production of 9,000 bbl/d and several in-field development opportunities, which it says could be brought onstream with short lead times.

Offshore Namibia, the company is advancing a revised development for the Kudu gas discovery in the northern Orange sub-basin, 130 km from the southwest coast.

The proposed gas-to-power project would employ a semisubmersible drilling rig repurposed as a floating production unit. This could cut capex substantially compared with Kudu’s previous development concepts, the company claims.

Recently, its Namibian subsidiary BW Kudu signed an engagement protocol with the local power company NamPower Corp., covering the project feasibility process and a term sheet for the power purchase agreement and a plan for final negotiations.

Final sanction for a gas-to-power development would be subject to a project financing solution and power sales agreements.

Currently the company is acquiring a modern 3D seismic, gravity and magnetic dataset over the license designed to enhance the depositional model, de-risk additional upside targets, and provide better data to support FEED work and any future farm-in discussions.

02.28.2023