London, June 4, 2024 (The Energy Circle) - BW Energy has made a substantial oil discovery following the conclusion of its DHIBM-7P pilot well drilling campaign in the Hibiscus area offshore Gabon. The well, drilled to a depth of 3,941 meters from the MaBoMo production platform, has confirmed a significant oil reserve with excellent reservoir quality. This discovery is expected to boost the Hibiscus area’s gross recoverable reserves by an estimated 8 to 12 million barrels of oil.

Strategically positioned approximately 1.5 km north-northwest of the MaBoMo platform, the DHIBM-7P pilot well was drilled using the Borr Norve jack-up rig. One of the campaign's remarkable findings is the extensive hydrocarbon column spanning the Gamba and Dentale formations. This marks the first recorded instance of a common Gamba-Dentale hydrocarbon accumulation in the Hibiscus field, representing a notable milestone for BW Energy.

Plans are underway to complete the DHIBM-7P well as a development well later in 2024. Concurrently, BW Energy is finalising the development of the DHBSM-2H well in the northern part of the Hibiscus South field, which was recently appraised successfully. These operations highlight BW Energy’s commitment to enhancing production capabilities and fully exploring the Hibiscus area's potential.