BW Energy: Makes FID on Maromba field development in Brazil

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BW Energy Services Limited
BW Energy Services Limited

BW Energy makes FID on Maromba field development in Brazil 

BW Energy is pleased to announce the final investment decision (FID) for the Maromba development offshore Brazil based on a capex-efficient development with an integrated drilling and wellhead platform (WHP) and a refurbished FPSO. The development targets 500 million barrels of oil in place in the highly delineated and tested Maastrichtian sands. First oil is planned by end-2027 with expected plateau production of 60,000 barrels of oil per day. The development will more than double BW Energy’s total net production by 2028 and has short pay-back time.

Project highlights:

  • Initial six production wells from the WHP

  • The WHP will be a converted drilling jack-up with up to 16 well slots and production- and test-flowlines connected to the redeployed FPSO BW Maromba (ex. Polvo)

  • A second six-well drilling campaign will fully leverage the established field infrastructure and allow for appraisal and testing of other reservoir horizons

  • BW Maromba refurbishment and life extension work is already underway at the COSCO yard in China

  • Total investments of USD ~1.5 billion, split USD ~1.2 billion for the initial development and a further USD ~0.3 billion for the secondary drilling campaign

“We have spent time on optimising the Maromba development plan and concluded on a highly competitive concept with a repurposed jack-up platform and FPSO, repeating the approach we very successfully applied in Gabon. Maromba will enable BW Energy to deliver industry-leading organic production growth and position the Company for further low-cost developments of known potential developments. We expect to unlock significant shareholder value in all realistic oil price scenarios,” said Carl K. Arnet, the CEO of BW Energy.

Capex-efficient development concept 

The development comprises six initial Maastrichtian horizontal production wells with dry-trees and artificial lift by downhole Electric Submersible Pumps (ESPs). Production will be transferred from the WHP to the spread moored FPSO Maromba for treatment, storage and offloading to shuttle tankers. The WHP will be installed in ~150 meters of water depth with full drilling facilities. Once installed, the infrastructure will also enable the planned secondary six-well drilling campaign and provide potential for future development phases with low-cost infill wells, potential water injectors as well as allowing appraisal and production of multiple proven reservoirs outside the main Maastrichtian resources.

The FPSO Maromba is currently at the COSCO yard in China, undergoing initial refurbishment and life extension work following completion of condition assessment and FEED.  The FPSO is designed with 1 million barrels of storage capacity. The total liquid capacity will be 100,000 barrels per day with oil production capacity of 65,000 barrels per day and water treatment capacity of 85,000 barrels per day.