BW Energy plans to begin Brazil drilling campaign in March

BW Energy plans to begin a drilling campaign in Brazil’s Golfinho field in March, two sources familiar with the matter told BNamericas. 

Located in deep waters of the Espírito Santo basin, off the country’s southeast coast, Golfinho was fully acquired from Petrobras by the Norwegian company for US$75mn last June. 

The transaction, which included 100% of the Camarupim field and 65% of block BM-ES-23, is expected to be concluded this quarter. 

Golfinho will add approximately 9,000b/d of oil to BW’s local portfolio through the Cidade de Vitória FPSO, which was purchased from Saipem in 2022 for US$75mn. 

The operation involving the production unit, whose output and storage capacity are 100,000b/d and 1.6Mb, respectively, is also scheduled to close in 1Q23. 

BW estimates that the assets hold 38Mboe (million barrels of oil equivalent) of proven recoverable resources, predominantly oil, of which 19Mboe is developed and in production and 19Mboe undeveloped. 

A further 200Mm3 (million cubic meters) of recoverable gas accumulations for potential future development have also been identified by the company in the areas.

According to one of the sources, BW has already hired offshore vessels to support its Golfinho campaign and will use a logistics base in Espírito Santo state capital Vitória to support the works. 

In Brazil, BW Energy also operates the Maromba field in the Campos basin, whose first oil is scheduled for 2025. 

The asset is expected to reach peak production of between 30,000b/d and 40,000b/d, and the final investment decision for the project is subject to the completion of financing activities.