BW Energy has dropped preparations for two new infill wells at the Golfinho field offshore Brazil, the company said in a results update.
Growing costs of subsea equipment and services looked set to negatively impact returns from the project. Instead, the company will prioritize optimizing production from existing facilities, including select well workovers and stabilization of FPSO performance and selected well workovers.
It will also look to improve its understanding of the reservoirs for future development activities.
Late last year, BW Energy took delivery of the FPSO Cidade de Vitoria from Saipem. The vessel, with a 1.6-MMbbl storage capacity, at the time was producing about 10,000 bbl/d of oil from the Golfinho field.
Elsewhere offshore Brazil, the company continues to work on a revised Maromba field development plan via a wellhead platform and an integrated drilling facility. This should reduce the total investment costs while improving access to additional reserves.
BW Energy aims to complete concept studies by the end of the year. It anticipates peak average oil production from the field in the range 30,000 to 40,000 bbl/d.
The FPSO Polvo, renamed BW Maromba, is at the COSCO yard in China with work-scope planning underway ahead of the upgrade works.
Offshore Namibia, the company continues development planning and concept selection for the Kudu gas-to-power project with relevant parties and is progressing its analysis of results from the 2023 3D seismic survey over Kudu and additional data over an adjacent area acquired earlier this year.
Definition is underway of the target for a first exploration well next year. Preparations have started for an independent rig tender, although the company is also in dialogue with other operators in the Orange Basin on common use of available resources.
