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BW Energy made a final investment decision (FID) for the Maromba development offshore Brazil based on a capex-efficient development with an integrated drilling and wellhead platform (WHP) and a refurbished FPSO. The development targets 500 million barrels of oil in place in the highly delineated and tested Maastrichtian sands. First oil is planned by end-2027 with expected plateau production of 60,000 barrels of oil per day.

The development comprises six initial Maastrichtian horizontal production wells with dry-trees and artificial lift by downhole Electric Submersible Pumps (ESPs). Production will be transferred from the WHP to the spread moored FPSO Maromba for treatment, storage and offloading to shuttle tankers. The WHP will be installed in ~150 m of water depth with full drilling facilities. Once installed, the infrastructure will also enable the planned secondary six-well drilling campaign and provide potential for future development phases with low-cost infill wells, potential water injectors as well as allowing appraisal and production of multiple proven reservoirs outside the main Maastrichtian resources.

BW Energy has agreed to acquire a jackup with complete leg extensions for $107.5 million. The rig will undergo a limited conversion to serve as an integrated drilling and wellhead platform prior to installation on the field.

BW Energy expects to invest approximately $1 billion before first oil and a further $200 million to complete the initial drilling campaign before end 2028. This will be followed by $300 million for the additional six wells in the second campaign with completion before end 2030.

Maromba is located 100 km off the Brazilian coast in the 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 barrels of 2P reserves (management estimates), with potential additional resources from other reservoirs to be appraised along the development.