Exciting News for BW Energy as License Extension Approved for Golfinho Asset
Oslo Stock Exchange-listed oil and gas E&P company BW Energy has reason to celebrate as the Brazilian oil and gas regulator, ANP, has granted approval for the extension of the license production phase for its asset in the Espírito Santo Basin off the coast of Brazil. This extension now stretches the production phase to 2042, providing a significant opportunity for long-term value creation at the Golfinho field.
After acquiring the Golfinho and Camarupim clusters in August 2023, BW Energy took over as the operator with a 100% working interest in the Golfinho license. Located in the Espírito Santo Basin, the Golfinho field operates within water depths ranging from 1,300 to 2,200 meters.
The hydrocarbons at the Golfinho field are produced using the FPSO Cidade de Vitória, under BW Energy’s management since November 2023. This field has been in production since 2007, showcasing a track record of successful operations.
CEO of BW Energy, Carl K. Arnet, expressed his enthusiasm about the license extension, stating, “The extension supports our long-term plans for developing the Golfinho field, initially through improved operational performance of existing infrastructure and later targeting several proven low-risk in-field development opportunities.”
The Golfinho cluster includes the Golfinho oil field, the Canapu non-associated gas field, and the exploration block BM-ES-23, which contains the Brigadeiro gas and condensate discovery. Additionally, the adjacent Camarupim cluster, situated in water depths between 100 and 1,050 meters, comprises the non-producing gas fields of Camarupim and Camarupim Norte.
The FPSO Cidade de Vitoria, with a storage capacity of 1.6 million barrels, has the capability to produce over 100,000 barrels of oil per day, along with additional capacity for gas production and compression.
While focusing on its assets offshore Africa, BW Energy is gearing up to drill the Kharas prospect within the Kudu license. Recently, the company also made an oil discovery in the Dussafu license off the coast of Gabon, highlighting its commitment to exploration and development in key regions.