BW sanctions second phase of Tortue development offshore Gabon

BW Offshore, an FPSO specialist turned oil operator via its BW Energy subsidiary, has sanctioned the second phase of its Tortue development offshore Gabon.

The final investment decision announcement was made on Tuesday, two months following the production start-up at the Tortue Phase 1. BW Offshore has sanctioned the second phase of the Tortue development following the successful on the western flank of the Tortue field.

The second phase entails drilling of four additional horizontal development wells, tied back to the FPSO with a budget of $275 million.

BW has said it has already placed orders for long lead equipment including subsea trees, wellheads, drilling casing, and completion equipment.

Also, the company has signed a letter of intent has been signed for the drilling rig to ensure timely development. BW Offshore did not say who the suppliers were.

BW’s internal estimate of 2P gross reserves for the Tortue field phase 1 (2 wells) and phase 2 (4 wells) is currently between 30 to 40 million barrels of oil equivalent, excluding contingent resources.

BW Offshore has also approved drilling of two additional appraisal wells in the greater Ruche area as part of the Tortue phase 2 drilling program to further evaluate high-grade prospects. This decision is also subject to partner and government approval.

As for the status of the Tortue Phase 1, the field is currently producing at 12500 per day, and is scheduled to send first oil cargo from the FPSO Adolo later this month.