BW Energy has reached positive FIDs for two projects offshore Brazil and Gabon and raised its 2028 production target, the company announced on Wednesday.
The decisions cover the Bourdon Phase 1 development in the Dussafu licence offshore Gabon and a new campaign of infill wells in the Golfinho licence offshore Brazil. Based on estimates of the cumulative impact of the projects, BW Energy has raised its 2028 production target by around 10% to more than 100,000 bopd.
Bourdon Phase 1 targets an estimated 25 million barrels of gross 2P oil reserves with initial production from three wells in Q1 2028. BW Energy has budgeted USD 300 million in capex towards the project. The Dussafu licence contains several fields that are producing to the BW Adolo FPSO and yielded approximately 33,200 bopd in 2025. BW Energy operates the asset with a 73.5% interest alongside partners Panoro Energy, with 17.5% and Gabon Oil Company, with 9%.
The Brazil campaign is targeting gross 2P reserves of 50 million boe, comprising 42% oil and 58% gas, with four new wells tied back to the Golfinho FPSO. Net capex is projected to reach USD 450 million and is expected to bring BW Energy’s Golfinho production to approximately 30,000 boepd by end-2028, up from 5,500 boepd in 2025. The company operates the asset with 100% interest.
“These two projects add highly profitable production in licenses with proven reserves and multiple growth opportunities. Through the repurposing of existing energy assets and a phased approach, BW Energy has optimised the development solutions supported by low-cost infrastructure-backed financing,” said Carl K. Arnet, CEO of BW Energy.
Oslo-listed BW Energy is an independent oil and gas company specialising in phased developments of offshore reservoirs. The company owns and operates assets in Gabon, Brazil and Namibia.