With an initial plan to drill three wells to expand the oil production field, BW Energy acquired the FPSO Polvo to include it in the Maromba project and expand its presence in the international oil and gas market
The company BW Energy, a subsidiary of the BW Group, announced last Friday, (22/04), the purchase of the FPSO Polvo for inclusion in the Maromba oil production field. In addition, it has an expansion plan in the market that includes the drilling of three wells only in the initial stage for an internal growth in the production and commercialization of this fuel in the international market.
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Purchase of FPSO Polvo for inclusion in the Maromba oil production field involved a transaction of more than US$ 50 million by BW Energy
The BW Group has had a growth plan in the international market for some years and, during this last week, it announced the purchase of the FPSO Polvo for inclusion in the Maromba oil production project, through its subsidiary BW Energy. Thus, the transaction involved US$ 50 million and the company also revealed that the development plan for the field is based on an initial campaign drilling three wells to expand oil production in the field.
The first of the wells for exploration of the raw material is expected to be opened for production in the year 2025 and another part of the expansion project for the Maromba oil field includes the drilling of three more wells by the year 2027. , the company BW Energy will not only be able to attract more investment to the oil and gas market, but will also expand its internal production for an even more intensive commercialization of the product.
With that, the CEO of BW Energy, Carl Arnet, commented on the expansion plan of the production of Maromba oil and the importance of the project for the development of the BW Group. Thus, the executive stated that “We have been working to optimize Maromba’s development plan since the acquisition in 2019 and during the covid-19 pandemic. This includes technical assessments, full spectrum analysis of geological, seismic and well data, as well as extensive modeling and reservoir simulations. Based on our findings, we have decided to proceed with the development with six horizontal production wells.”
Expansion project for the Maromba oil production field will be carried out slowly to better monitor well drilling and resource exploration
One of the main points of the BW Energy project for the Maromba oil production field is the slow stages of the site's growth, so that the company can monitor processes with quality. Like this, the total production of oil at the peak is expected between 30 and 40 barrels per day after the completion of the second stage of the project, which could be even higher, but will have to be done in a manner consistent with the initiative.
The investment of more than US$ 50 million in the transaction for the purchase of FPSO Polvo by BW Energy was carried out due to the location of the FPSO close to the Maromba field and the similar characteristics of oil and reservoir. Thus, after the end of the second stage of the expansion project, the site will be designed for up to 10 producing wells with a storage capacity of 1,2 million barrels.
With this announcement, BW Energy is now moving into a new phase of expansion for the company, with a very clear focus on the expansion market in this field that is so important for the company, and seeks even more growth in the international market.
