BW Energy Announces New Investment of $107 Million to Boost Production at Golfinho Field

Written by Sara Aquino

Published on 15/04/2025 at 19:34

Foto: BW Energy

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With The New Investment From BW Energy, Golfinho Boost Project Aims To Modernize Structure And Increase Oil Production By More Than 3 Thousand Barrels Per Day.

BW Energy announced a new investment cycle in Brazil, focused on the development of the Golfinho field in the Espírito Santo Basin. The initiative, called the Golfinho Boost project, foresees a total investment of US$ 107 million, with the aim of increasing operational efficiency, reducing costs, and adding about 3,000 daily barrels of oil to national production starting in 2027.

After securing the extension of the operating license for the Golfinho field until 2042, BW Energy reaffirms its commitment to long-term development in the country.

The new project represents a strategic step that strengthens the company’s presence in the Brazilian offshore energy market.

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BW Energy Seeks More Efficient Production And New Subsea Equipment

The BW Energy plan includes a series of updates in the Golfinho field, such as replacing the gas lifting system with electric submersible pumps (ESPs), reactivating old wells, changing umbilicals, and improving field logistics.

As a result, the company aims to increase recoverable reserves by up to 12 million barrels.

The FPSO Cidade de Vitória, which has been operating in the Golfinho field since 2007, will be one of the major beneficiaries of the improvements.

With a storage capacity of 1.6 million barrels and daily production exceeding 100,000 barrels, the FPSO will be adapted to support the expected operational growth with the new investment.

Promising Field With New Opportunities

The acquisition of the Golfinho and Camarupim clusters by BW Energy in 2023 consolidated the company as the sole owner of the Golfinho field license.

Since then, the company has taken steps to maximize the use of the asset, which currently has five operating subsea wells and estimated reserves of 42 million barrels of oil equivalent.

According to CEO Carl K. Arnet, the investment represents a key step to strengthen BW Energy’s strategic position in Brazil.

“BW Energy continues to strengthen its position in Brazil through targeted measures in the Golfinho field to increase production, uptime, and operational independence. The low-risk planned enhancements for the field’s assets and operations offer very attractive returns and should help unlock substantial long-term value creation for the company and its stakeholders,” he stated.

Impacts On The Industry And International Expansion

The Golfinho field is a key asset for the company’s portfolio. In addition to oil, the cluster includes the associated gas field of Canapu and the BM-ES-23 block, with gas and condensate discoveries.

The extracted gas can be transported through existing infrastructure to the Cacimbas gas treatment unit, enhancing the region’s energy integration.

While advancing with the investment in Brazil, BW Energy is also focusing on the African continent. The company plans to drill the Kharas prospect within the Kudu license and celebrates a recent oil discovery off the coast of Gabon.

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BW Energy Announces New Investment of $107 Million to Boost Production at Golfinho Field

With The New Investment From BW Energy, Golfinho Boost Project Aims To Modernize Structure And Increase Oil Production By More Than 3 Thousand Barrels Per Day.

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

BW Energy Seeks More Efficient Production And New Subsea Equipment

Promising Field With New Opportunities

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BW Energy Announces New Investment of $107 Million to Boost Production at Golfinho Field

With The New Investment From BW Energy, Golfinho Boost Project Aims To Modernize Structure And Increase Oil Production By More Than 3 Thousand Barrels Per Day.

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Promising Field With New Opportunities

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