BW Energy is presenting at the Pareto\u00a0Securities’ Energy Conference today. Please see the attached presentation.<\/p>\n
While presenting at\u00a0 the Pareto Securities’ Energy Conference BW Energy referenced the progression of an alternative development plan for Hibiscus\/Ruche, utilising a converted jack-up instead of constructing and installing a new wellhead platform.<\/p>\n
The conversion concept is expected to reduce development capex, time to first oil and enable a substantial reduction to field-development related climate gas emissions by re-using already existing energy infrastructure.<\/p>\n
The alternative development plan has the potential to lower the estimated cash- break even oil price for the Hibiscus\/Ruche (phase 1 and 2) development to approximately USD 25 per barrel Brent. A final decision to restart the Hibiscus\/Ruche development is subject to lifting of COVID-19 restrictions to allow for efficient project execution, currently expected towards year-end 2020.<\/p>\n
The presentation also refered to the expected impact from completion of the remaining two wells of the Tortue phase 2 development. These are currently expected to be completed at end of Q2 2021, adding 8-9,000 gross bbls\/day at peak.<\/p>\n
BW Energy has a 73.5% interest of the producing Dussafu Marine Permit offshore Gabon.<\/p>\n
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