BW Energy Announces ‘New Oil’ in Gabon’s Hibiscus South - Africa’s premier report on the oil, gas and energy landscape.

BW Energy Announces ‘New Oil’ in Gabon’s Hibiscus South

The Norwegian explorer, BW Energy has announced that the DHBSM-1 appraisal well has encountered commercial volumes of oil in the Hibiscus South satellite prospect. The company plans to return to the well to complete it as a production well in early 2024.

The DHBSM-1 well was drilled from the MaBoMo production platform to a total depth of 6,002 metres. The target area is located approximately five kilometres southwest of the MaBoMo and was drilled by the Borr Norve jack-up rig.

“Evaluation of logging data, sample examination and formation pressure measurements confirm approximately 20 metres of pay in an overall hydrocarbon column of 26.5 metres in the Gamba formation”, BW Energy explains in a statement.

“The well data confirms that the Hibiscus South structure is a separate accumulation with a deeper oil-water contact than the nearby Hibiscus Field.  This will enable the Company to book additional reserves not currently included in its annual statement of reserves and provide the opportunity to drill one or more additional production wells from the MaBoMo facility.

Preliminary evaluation indicates gross recoverable reserves of 6 to 7Million barrels of oil and approximately 16 million barrels of oil in place, in line with the mid-case pre-drill expectations reported prior to the commencement of drilling operations.

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