Oslo-listed oil and gas company BW Energy has achieved successful production from the third well of the Hibiscus/Ruche Phase 1 development in the Dussafu license offshore Gabon. The DHIBM-5H well, drilled as a horizontal well from the BW MaBoMo production facility, has reached a total depth of 4,245 meters into the Gamba sandstone reservoir at the Hibiscus field. The current production is approximately 6,000 barrels per day, in line with expectations.

The drilling campaign aims to target a total of six wells, consisting of four Hibiscus Gamba wells and two Ruche Gamba wells, which are expected to collectively produce around 40,000 barrels per day by early 2024. The drilling activities are ongoing, with Borr Drilling's Norve jack-up rig starting operations on the fourth production well, DHIBM-6H.

Carl Krogh Arnet, CEO of BW Energy, praised the drilling team for their efficient delivery of the third Hibiscus production well and emphasized the company's commitment to maintaining excellent HSE (Health, Safety, and Environment) performance. The well data received confirms excellent reservoir quality, providing support for continued successive production growth in Gabon throughout 2023 and into early 2024 as the drilling program is completed.

The Hibiscus/Ruche development project is located approximately 20 kilometers northwest of the Tortue field. BW Energy holds a 73.5% ownership interest and operates the Dussafu license, with partners Panoro Energy (17.5%) and Gabon Oil Company (9%). The oil produced at Hibiscus/Ruche is transported via a pipeline to the FPSO BW Adolo for processing, storage, and eventual offloading to export tankers.

The completion of the third Hibiscus well marks a significant milestone in BW Energy's organic growth plan, bringing them closer to achieving a net production of 13,000 bopd (barrels of oil per day) when all six new Hibiscus/Ruche Phase I wells are operational, according to John Hamilton, CEO of Panoro Energy.