UK-headquartered Panoro Energy and Oslo-listed BW Energy have encountered more oil at a permit offshore Gabon by drilling two open-water wells.
Panoro Energy reported on October 15 the conclusion of drilling two open-water wells to appraise the North-West Hibiscus area at the Dussafu Marin Permit offshore Gabon.
Based on preliminary assessment, this represents an aggregate estimate of recoverable oil of approximately 8-9 million barrels.
Dussafu is operated by BW Energy Gabon and Panoro’s interest in the license is 17.5%. The permit consists of multiple oil fields, including Moubenga, Walt Whitman, Ruche, Ruche North East, Tortue, Hibiscus and Hibiscus North. The latter five fields were discovered by Panoro and JV partners.
According to the firm, the first well encountered a 16-meter oil column in high-quality Gamba reservoir sands adjacent to the Hibiscus field, while the second well, drilled as a side-track from the main well bore, confirmed the extension of the Hibiscus structure with the presence of a 30-meter oil column in high-quality Gamba sands within an as-yet undeveloped area of the Hibiscus field.
The Borr Prospector 5 jack-up drilling rig is now mobilizing to the MaBoMo production platform, from where it will soon begin the planned MaBoMo Phase 2 drilling campaign, consisting of four new production infill wells in the Hibiscus and Hibiscus South fields.
The first well is expected to come on stream in early 2027.
As a result of the successful appraisal wells, the partners are assessing the addition of a fifth new production well at the end of the MaBoMo Phase 2 drilling campaign in the Hibiscus field. It is expected to drain an additional volume of at least 6 mmbls of oil.
“The two latest successful appraisal wells further demonstrate the quality of the Hibiscus area and the substantial organic upside that remains within the Dussafu block," said Eric d’Argentré, Chief Operating Officer and President at Panoro Energy. "By leveraging the existing MaBoMo infrastructure, we are able to move quickly from subsurface success to development, with the addition of a fifth well to the Phase 2 campaign which will take gross Dussafu production back to nameplate capacity of 40,000 bopd.”