BW Offshore: Successful completion of appraisal well on Ruche North East
September 27 2018 - 12:30AM
BW Offshore is pleased to announce the successful
drilling and completion of the Ruche North East (DRNEM-1) appraisal
well which encountered oil on the Ruche North East structure in the
Dussafu License. Drilling operations also included an appraisal
side-track to delineate the discovery. The well was completed
safely and on budget. This will conclude all drilling
operations in the Dussafu License for 2018 and the rig has been
released.
The DRNEM-1 well encountered 40
meters of pay in the Gamba and Dentale formations in the original
wellbore. An appraisal side-track was drilled approximately
800 meters north west of the original wellbore and encountered 34
meters of pay in the Gamba and Dentale formation. The
technical and commercial teams will now perform an evaluation of
the potential development of these resources.
"The positive results of the Ruche
North East well further confirms the upside potential for the
Dussafu License", said Carl K. Arnet, CEO of BW Offshore. "By
combining our deep knowledge of the area, our resources and a
well-suited FPSO, we are about to transform the Dussafu license
into a significant producing asset with considerable upside."
The DRNEM-1 well was designed to
appraise one of several prospects that have been mapped in the
greater Ruche area of the Dussafu License. The objective was to
identify additional resources, which will be aggregated with the
existing Ruche discovery and form the basis for future
development.
BW Offshore has previously
announced the commencement of production from Tortue Phase 1 into
the BW Adolo FPSO. The company is evaluating the Tortue Phase 2
development project with final investment decision scheduled for 4Q
2018. The internal estimate of 2P gross reserves for the Tortue
field Phase 1 (2 wells) and Phase 2 (4 wells) are between 30 to 40
mmbls, excluding contingent reserves.
For further information, please
contact:
Knut R. Sæthre, CFO, +47 911 17
876
IR@bwoffshore.com or www.bwoffshore.com
About BW
Offshore:
BW Offshore is a leading provider of
floating production services to the oil and gas industry. The
company also participates in developing proven offshore hydrocarbon
reservoirs. BW Offshore is represented in all major oil and gas
regions world-wide with a fleet of 15 owned FPSOs. The company has
more than 30 years of production track record, having executed 40
FPSO and FSO projects. BW Offshore is listed on the Oslo Stock
Exchange.
This information is subject
to the disclosure requirements pursuant to section 5 -12 of the
Norwegian Securities Trading Act.
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: BW Offshore via Globenewswire
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