Improved oil prices buoyed BW Energy’s second quarter results, opening the way for the company to plan additional drilling in Gabon.
BW Offshore intends to hold an IPO of its BW Energy unit, which is producing oil in Gabon, in the first quarter of 2020 on the Oslo Stock Exchange.
Tullow Oil has exercised its back-in right for a 10% stake in Gabon’s Dussafu production-sharing contract (PSC), although the amount payable is under dispute.
BW Offshore plans to double production from the first phase of the Ruche development to 30,000 barrels per day.
BW Offshore’s work on the Hibiscus find suggests it may hold 40-50 million barrels, up from the initial estimate of 12mn barrels.
BP has awarded TechnipFMC the engineering design contract for the Tortue/Ahmeyim fields floating production, storage and offloading (FPSO) unit.
BW Offshore said today that the first development well had been completed at the Tortue field, within the Dussafu license, offshore Gabon.
Kosmos Energy and BP said today that it expects to reach a final investment decision on the Tortue gas field project off West Africa towards the end of 2018.
Kosmos Energy said today that tests on the Tortue-1 well prove that the discovery off West Africa is "world class".