Continental Focus, International Reach

BW Offshore Takes Investment Decision on Next Tortue Phase

Monday, November 26, 2018

BW Offshore has made the investment decision for Tortue Phase 2 in Gabon. In its recent statement the company said the decision follows the successful appraisal program on the western flank of the Tortue field. Phase 2 includes drilling of four additional horizontal development wells.

Orders for long lead equipment have been placed including subsea trees, wellheads, drilling casing and completion equipment. Additionally, a LoI has been signed for the drilling rig to ensure timely development.

The company’s internal estimate of 2P gross reserves for the Tortue field Phase 1 (two wells) and Phase 2 (four wells) is currently between 30 to 40 million barrels of oil equivalent, excluding contingent reserves.

First oil from Phase 1 of the Tortue development, in the Dussafu license, was achieved September 16, 2018 by the FPSO BW Adolo within budget and ahead of schedule, with no Lost Time Incidents.

The field is currently producing from the two horizontal wells, DTM-2H and DTM-3H. Production has gradually increased while pressure has been closely monitored. Production performance has been in line with expectations and is currently stabilized at approx. 12,500 bpd without any water cut. Net production to the BW Energy partnership Q3 was 111.5 thousand barrels of oil. The first offloading from the FPSO is scheduled for late November.