These volumes will come in addition to the production from the Tortue …

OSLO, Norway – BW Energy has revised the Ruche development plan to include the recent Hibiscus discovery in the Dussafu license offshore Gabon.. BW Offshore Limited (BWO) is pleased to announce a revised Ruche development plan including the Hibiscus discovery which will accelerate production growth from the Dussafu license offshore …
Gabon’s Ruche offshore area accommodates the Ruche A (Ruche), Ruche B (Tortue), Ruche C (Moubenga) and Ruche D (Walt Whitman) discoveries in water depths of up to 305m in the Southern Gabon Basin. The Dussafu license is operated by BW Energy Gabon (BWEG), which holds a 91.667 percent interest, while Panoro holds an 8.333 percent interest as a partner. Under the revised plan, estimated gross production from Ruche phase 1 is forecasted to double from 15,000 bbls/day to 30,000 bbls/day. BW Energy announces revised plan of development for Ruche phase 1 . The development covers an area of 850.5km² within the Dussafu block, which is spread over more than 680,000 acres.

BW Energy is a subsidiary of BW Offshore. BW Offshore, through its subsidiary BW Energy Gabon, has sold a ten percent interest of the Dussafu license to the Gabon Oil Company (GOC). BW Offshore has also approved drilling of two additional appraisal wells in the greater Ruche area as part of the Tortue phase 2 drilling program to further evaluate high-grade prospects. BW Offshore Limited (BWO) is pleased to announce a revised Ruche development plan including the Hibiscus discovery which will accelerate production growth from the Dussafu license offshore Gabon. BW Offshore has found more oil offshore Gabon following the drilling of the Ruche North East sidetrack well located in the Dussafu Marin PSC. The development, formerly known as Dussafu Phase 3, will comprise a wellhead platform with 12 well slots located between the Hibiscus and Ruche field and tied back to the producing FPSO BW Adolo, located 19 km away. BW Energy has made an oil discovery in the Ruche North East Marin-1 (DRNEM-1) well drilled in the Dussafu Marin PSC, offshore Gabon. BW said on Tuesday that the transaction was subject to the fulfillment of certain conditions, including approval from the government of Gabon, and entailed payment by GOC of $28.5 million. Under the revised plan, estimated gross production from Ruche phase 1 is forecasted to double from 15,000 bbls/day to 30,000 bbls/day. BW Offshore has advised that a final investment decision (FID) has been taken on the Ruche Phase 1 project, offshore Gabon. The Dussafu license is operated by BW Energy Gabon (BWEG), which holds a 91.667 percent interest, while Panoro holds an 8.333 percent interest as a partner. BW Offshore has announced a revised Ruche development plan including the Hibiscus discovery which will accelerate production growth from the Dussafu license offshore Gabon. BW Offshore has announced a revised Ruche development plan including the Hibiscus discovery which will accelerate production growth from the Dussafu license offshore Gabon.Under the revised plan, estimated gross production from Ruche phase 1 is forecasted to double from 15,000 bbls/day to 30,000 bbls/day. The development, formerly known as Dussafu Phase 3, will comprise a wellhead platform with 12 well slots located between the Hibiscus and Ruche field and tied back to the producing FPSO BW Adolo, located 19 km away. Under the revised plan, estimated gross production from Ruche Phase 1 is forecasted to double from 15,000 b/d to 30,000 b/d. Any offer for sale or purchase of securities will be made by means of an offer document that may be obtained by certain qualified investors from BW Offshore. FPSO BW Adolo; Source: BW Offshore
The revised plan will result in higher production as well as project cost estimate. BW Energy announces revised plan of development for Ruche phase 1 . BW Energy Gabon 91.66% Subsidiary of BW Offshore Panoro Working Interest 8.33% Other Partners Back-in right for 10% held by Affiliate of Tullow Oil; past costs payable if elected Gabon Oil Company 10.00% (to be finalised) PROJECT OWNERSHIP POST BWE TRANSACTIONS Four pre-salt oil discoveries with upside/appraisal potential BW Energy is a subsidiary of BW Offshore.


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