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    1. Production

    Gabon stalwarts join forces in two new offshore production sharing contracts

    Nov. 1, 2024
    BW Energy has signed production sharing contracts for two exploration blocks offshore Gabon: Niosi Marin and Guduma Marin (ex-G12-13 and H12-13).
    Related To: BW Energy
    Courtesy BW Energy
    The Dussafu license is situated within the Ruche Exclusive Exploitation Area (Ruche EEA), which covers 850 sq km and includes six discovered oil fields and numerous leads and prospects, according to BW Energy.
    The Dussafu license is situated within the Ruche Exclusive Exploitation Area (Ruche EEA), which covers 850 sq km and includes six discovered oil fields and numerous leads and prospects, according to BW Energy.

    BW Energy has signed production sharing contracts (PSCs) for two exploration blocks offshore Gabon: Niosi Marin and Guduma Marin (ex-G12-13 and H12-13).

    The company holds a 37.5% operating interest in both blocks, which cover a 4,918-sq-km area next to BW Energy’s Dussafu Marin license offshore southern Gabon.

    Niosi is also adjacent to the producing Etame Marin permit operated by VAALCO Energy. To date, the partnerships here and in Dussafu have discovered an estimated combined volume of more than 300 MMbbl of oil, put multiple fields into production, and installed processing and export infrastructure.

    The PSC covering the Niosi Block runs initially for five years with a commitment to acquire new 3D seismic data and to drill one well. The Guduma PSC has an initial three-year exploration period and a commitment to geological and geophysical studies. 

    In both cases, there is an option to prolong the exploration period into a second phase with an additional well.

    Courtesy Panoro Energy
    Map of the Niosi and Guduma blocks
    Map of the Niosi and Guduma blocks

    According to BW Energy CEO Carl K. Arnet, “Most of the Niosi Marin and Guduma Marin acreage is within tieback distance to existing infrastructure, enabling fast-track, low-cost development of future discoveries. We have proven our ability to create significant value in the Dussafu licence, where we are close to completing the first phase of Hibiscus/Ruche to bring production to nameplate capacity of 40,000 barrels per day.”

    VAALCO Energy (37.5%) and Panoro Energy (25%) are the other partners in the PSCs. They also plan to transfer their subsurface and production knowledge from Dussafu and Etame to support the exploration process.