Oil
New oil finds reported at offshore Gabon permit
Panoro Energy and BW Energy have discovered additional oil resources at the Dussafu Marin Permit offshore Gabon.
Key points
- Two appraisal wells completed at the North-West Hibiscus area.
- Preliminary estimates indicate 8 to 9 million barrels of recoverable oil.
- Partners plan to add a fifth well to the upcoming drilling campaign.
What happened
Panoro Energy and BW Energy have found further oil reserves at the Dussafu Marin Permit located offshore Gabon, according to reporting by Offshore Energy. The joint venture partners finished drilling two open-water appraisal wells in the North-West Hibiscus sector. Initial evaluations suggest these wells hold between 8 and 9 million barrels of recoverable oil.
According to Panoro Energy, the first well intersected a 16-metre oil column within the Gamba reservoir close to the Hibiscus field. The second well, a sidetrack from the original borehole, revealed a 30-metre oil column in similar sands in an undeveloped section of the Hibiscus structure.
What comes next
BW Energy operates the Dussafu permit, while Panoro holds a 17.5 percent stake. The Borr Prospector 5 drilling rig is relocating to the MaBoMo production platform to initiate the second phase of the Hibiscus and Hibiscus South drilling programme.
Due to the recent appraisal results, project partners are evaluating the inclusion of an extra production well following the completion of the current drilling schedule. This additional well aims to extract at least 6 million barrels of oil and help restore production at the block to its capacity of 40,000 barrels per day.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
54.0% of Gabon’s merchandise exports were fuels in 2023Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
