BW Energy starts production from fourth well in the Hibiscus / Ruche development
BW Energy starts production from fourth well in the Hibiscus / Ruche development
BW Energy is pleased to announce that production has safely started from the fourth well of the Hibiscus / Ruche Phase 1 development in the Dussafu licence offshore Gabon. Well performance is in line with expectations with current production at approximately 6,500 barrels per day.
The DHIBM-6H well was drilled as a horizontal well from the MaBoMo production facility to a total depth of 4,125 metres into Gamba sandstone reservoir at the Hibiscus field. Following completion, the Borr Norve jack-up has commenced drilling operations on the fifth production well DRM-3H. This will be the first Ruche Gamba well in this drilling campaign.
"The drilling program progresses as planned with strong HSE results and robust production rates which support our expectations of successive production growth in Gabon into 2024. We consistently receive well data confirming excellent reservoir quality, with potential positive implications for Hibiscus reserve estimates,” said Carl Krogh Arnet, the CEO of BW Energy.
As previously communicated, DHIBM-3H and -4H have experienced issues with the ESPs (electrical submersible pumps). Investigations into the cause are ongoing. DHIBM-4H is currently flowing naturally at 2,800 barrels per day, while DHIBM-3H is temporarily not producing while we continue to work solutions. Current gross production from the Dussafu license is now approximately 26,500 barrels per day after the fourth Hibiscus well came onstream.
The drilling campaign targets four Hibiscus Gamba and two Ruche Gamba wells which are expected to bring the total oil production up to approximately 40,000 barrels per day when all wells are completed in early 2024. The oil produced at Hibiscus / Ruche is transported by pipeline to the BW Adolo FPSO for processing and storage before offloading to export tankers.
For further information, please contact:
Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76
About BW Energy:
BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine Permit offshore Gabon, 100% interest in the Golfinho and Camarupim fields in Brazil, a 65% interest in the BM-ES-23 block in Brazil, a 95% interest in the Maromba field in Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW Energy. Total net 2P+2C reserves and resources were 546 million barrels of oil equivalent at the start of 2023, when including the Golfinho Cluster.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading ActTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
FDA Approves Biogen’s TOFIDENCE™ (tocilizumab-bavi), a Biosimilar Referencing ACTEMRA®29.9.2023 22:06:00 CEST | Press release
TOFIDENCE (BIIB800) becomes the first tocilizumab biosimilar to gain FDA approval in the United States FDA approval is based on a robust analytical, non-clinical and clinical data package comparing TOFIDENCE to the reference product ACTEMRA CAMBRIDGE, Mass., Sept. 29, 2023 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) announced that the U.S. Food and Drug Administration (FDA) has approved TOFIDENCE (tocilizumab-bavi) intravenous formulation, a biosimilar monoclonal antibody referencing ACTEMRA. The TOFIDENCE intravenous formulation is approved for the treatment of moderately to severely active rheumatoid arthritis, polyarticular juvenile idiopathic arthritis and systemic juvenile idiopathic arthritis. TOFIDENCE is the first tocilizumab biosimilar approved in the United States. Biosimilars are biologic products that have been demonstrated to have equivalent efficacy and comparable safety as the approved reference product, with the advantage that they may offer cost savings and promote
Monument Reports Fourth Quarter and Fiscal 2023 Results29.9.2023 21:26:28 CEST | Press release
Gross Revenue of US$12.39 Million and Cash Cost of US$917/Oz for Gold Sulphide Production and US$1,622/Oz for Gold Oxide Production VANCOUVER, British Columbia, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its annual financial results for the year ended June 30, 2023. All amounts are in United States dollars unless otherwise indicated (refer to www.sedar.com for full financial results). Cathy Zhai, the President and CEO commented, “Fiscal 2023 was a milestone year for the Company with the gold sulphide project completed, and the flotation plant was put into production at the Selinsing Gold Mine in Malaysia. The commercial production has also been reached in August 2023 subsequent to the year end. It again demonstrates Monument has been able to deliver what’s been promised and now we are ready for the next corporate move.” Fiscal Year 2023 Highlights: Construction of the Selinsing sulphide flotation pla
Nokia Corporation: Repurchase of own shares on 29.09.202329.9.2023 20:00:00 CEST | Press release
Nokia Corporation Stock Exchange Release 29 September 2023 at 21:00 EEST Nokia Corporation: Repurchase of own shares on 29.09.2023 Espoo, Finland – On 29 September 2023 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows: Trading venue (MIC Code)Number of sharesWeighted average price / share, EUR*XHEL319,5513.57CEUX58,3773.57AQEU11,0113.57TQEX4,7613.57Total393,7003.57 * Rounded to two decimals On 3 February 2022, Nokia announced that its Board of Directors is initiating a share buyback program under the authorization granted by Nokia’s Annual General Meeting on 8 April 2021 to return up to EUR 600 million of cash to shareholders in tranches over a period of two years. The second phase of the share buyback program in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 5 April 2022 started on 2 Januar
EPH European Property Holdings PLC announces Unaudited Interim Results for the Six Months to 30 June 2023 and appointment of Management Committee Members29.9.2023 19:00:00 CEST | Press release
29 September 2023, Limassol, Cyprus / Ad hoc announcement pursuant to Art. 53 LR BUSINESS HIGHLIGHTS FIRST HALF YEAR OF 2023 With an established portfolio of high-quality properties in prime locations in Europe occupied by tenants with strong credit ratings, combined with professional asset management, EPH European Property Holdings PLC (“EPH” or the “Company”) has demon-strated operational stability in the first six months of 2023, despite the ongoing market environment challenges. As a result, EPH not only achieved almost full occupancy throughout its European portfolio, it also increased rental income.The sale of the Company’s Russian portfolio was concluded in April 2023, following the Extraordinary General Meeting (held on 1 November 2022) at which the shareholders of EPH authorised the Board of Directors to sell EPH Group’s entire Russian property portfolio by way of a management buyout. Upon disposal of the Russian segment in the first half of 2023, the Company reclassified the
Oxurion Publishes First Half 2023 Results29.9.2023 19:00:00 CEST | Press release
Regulated Information Leuven, BELGIUM, Boston, MA, US –September 29, 2023 – 7.00PM CET – Oxurion NV (Euronext Brussels: OXUR), a biopharmaceutical company developing next-generation standard of care ophthalmic therapies, with clinical stage assets in vascular retinal disorders, today published its financial and business update for the six-month period ending June 30, 2023. The half-year report is available in the “Investors” section of the Company’s website and can also be downloaded as a PDF. About Oxurion Oxurion (Euronext Brussels: OXUR) is a biopharmaceutical company developing next generation standard of care ophthalmic therapies, which are designed to improve and better preserve vision in patients with retinal disorders including diabetic macular edema (DME), the leading cause of vision loss in working-age people, as well as other conditions. Oxurion intends to play an important role in the treatment of retinal disorders, including the successful development of THR-149, its novel