BW Energy projects US$1.2bn investment in Brazil
Norway’s BW Energy plans to make the final investment decision on development of Brazil’s Maromba field in February.
The US$1.2bn Campos basin project involves repurposing an FPSO and a jack-up rig with drilling capacity and dry trees.
According to a press release, project financing is close to completion, and long-lead items will be ordered by March, with the field expected to start producing in the third quarter of 2027, targeting 50,000b/d of oil.
Maromba was discovered by federal oil firm Petrobras in 2003, but the company never brought it online and sold it to BW in 2019.
BW Energy initially planned to approve the FID in the second half of 2022, which would have resulted in production starting in 2025.
In Brazil, BW also operates the Golfinho field in the Espírito Santo basin. Net production from Golfinho averaged 6,400b/d in the fourth quarter of 2024, bringing total production for the period to 585,000b, up 17% on the previous quarter.
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News in: Oil & Gas (Brazil)
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BW Energy projects US$1.2bn investment in Brazil
The Norwegian company plans to make the final investment decision on development of the Maromba field in coming weeks.
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