BW Offshore Enters Campos Basin and May Acquire 100% of Maromba

The Oslo-listed FPSO operator, BW Offshore, is planning to enter agreements to acquire 100% of the Maromba field off the Brazilian coast from the current owners, Petrobras (70%) and Chevron (30%).

BW Offshore announced on Monday that the closing of the acquisition is subject to board approvals and fulfillment or waiver of conditions precedent, including approval by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) to close the transaction and consider BW Offshore as an approved operator in Brazil.

The Maromba field is located off the Brazilian coast, in the Campos Basin, 160 meters below sea level.

The company added that it will provide more information after the agreements are signed.

Petrobras announced its plan to sell its stake in the Maromba field in July 2017, and the mandatory phase concerning the transfer of Petrobras and Chevron’s stake in the Maromba Field began in October of the same year.

For Petrobras, the potential transaction is an opportunity to develop and monetize a heavy oil discovery in shallow waters, close to the producing fields of Peregrino and Papa-Terra.

This would not be BW Offshore’s first venture in oil and gas exploration. Notably, BW Offshore’s subsidiary, BW Energy, is the operator of the Dussafu license located offshore Gabon.

The company made an oil discovery in August at the Ruche North East Marin-1 well, drilled in the Dussafu Marin PSC.