BW Energy has taken a final investment decision (FID) to proceed with development of Maromba field offshore Brazil. First oil is targeted for end-2027 with expected plateau production of 60,000 boe/d. The operator expects the development to more than double the company’s total net production by 2028.
Maromba field lies 100 km off the Brazilian coast in Campos basin. Nine wells were drilled in the license between 1980 and 2006, with oil found in eight of these across various reservoirs. The development project targets 123 million bbl of 2P reserves (management estimates), with potential additional resources from other reservoirs to be appraised along the development, the company said in a release May 5.
Maromba field development
The project, estimated to cost $1.5 billion ($1.2 billion for initial development, $300 million for secondary drilling) is based on development with an integrated drilling and wellhead platform (WHP) and a refurbished FPSO.
The WHP will be a converted drilling jack-up—to be acquired for $107.5 million—with up to 16 well slots and production- and test-flowlines connected to the redeployed FPSO BW Maromba (ex. Polvo) (OGJ Online, Apr. 22, 2022). An initial six Maastrichtian horizontal production wells with dry-trees and artificial lift by downhole electric submersible pumps are expected from the WHP. Production will be transferred from the WHP to the spread moored FPSO for treatment, storage, and offloading to shuttle tankers.
A second six-well drilling campaign will leverage the established field infrastructure and allow for appraisal and testing of other reservoir horizons, BW Energy said.
BW Maromba refurbishment and life extension work is under way at the COSCO yard in China. The FPSO is designed with 1 million bbl of storage capacity. Total liquid capacity will be 100,000 b/d with oil production capacity of 65,000 b/d and water treatment capacity of 85,000 b/d.
The company is evaluating financing options and will now proceed with contracting of long-lead items.
BW Energy acquired 100% ownership in Maromba in 2019 for $115 million, of which $85 million remains to be paid to the sellers at predefined milestones (OGJ Online, July 7, 2017; Mar. 11. 2019). Magma Oil holds a 5% back-in right in the Maromba license which is expected to be executed upon first oil.