Oil and gas company BW Energy has reported that its DHBSM-1 appraisal well has encountered commercial volumes of oil in the Hibiscus South satellite prospect, offshore Gabon.
The company said it plans to return to the well to complete it as a production well in early 2024.
The DHBSM-1 well was drilled from the MaBoMo production platform to a total depth of 6,002 metres. The target zone is located approximately 5 kilometers southwest of MaBoMo and was drilled by the Borr Norve self-elevating platformsaid BW Energy.
Evaluation of logging data, examination of samples and formation pressure measurements confirm the presence of approximately 20 metres of ore in an overall 26.5-metre hydrocarbon column in the Gamba formation.
The well data confirm that the Hibiscus South structure is a distinct accumulation with a deeper oil-water contact than the neighboring Hibiscus field. This will enable the company to book additional reserves not currently included in its annual reserves statement, and provide the opportunity to drill one or more additional production wells from the MaBoMo facility.
"The successful appraisal of the Hibiscus South satellite structure represents a low-cost, low-risk expansion of Dussafu's production and reserve base. We look forward to bringing these high-value barrels into production quickly," said Carl K. Arnet CEO of BW Energy.
"The result also confirms the significant potential of the Dussafu permit, where we have multiple additional future prospects."
The preliminary assessment shows gross recoverable reserves of 6 to 7 million barrels of oil and approximately 16 million barrels of oil in place, in line with mid-scenario expectations prior to the start of drilling operations.