New oil discovery in Gabon: BW Energy confirms potential of 56 million barrels

The DBM-1 ST2 appraisal well confirms a significant oil discovery offshore Gabon. The Bourdon project could add up to 25 million recoverable barrels to BW Energy's reserves, further strengthening the Dussafu licence development.

Share:

The DBM-1 ST2 appraisal well, drilled in the Dussafu licence offshore Gabon, has confirmed a significant discovery, with an estimated potential of 56 million barrels of oil. Of these reserves, around 25 million barrels are considered recoverable, strengthening the production outlook for BW Energy.

Bourdon development potential

Carl K. Arnet, CEO of BW Energy, emphasized that this discovery confirms the potential to create a new development cluster with a production facility, following the MaBoMo model. The company plans at least four production wells for this project. This progress is part of a broader strategy to expand the company’s reserve base in the Dussafu area, which still contains several additional prospects to be drilled.

Reservoir characteristics

Initial data shows that the oil from the Bourdon field has relatively low viscosity, with an average of 3.5 centipoises (cp). In comparison, the neighbouring Hibiscus/Tortue and Ruche fields have viscosities of 5 cp and 7 cp, respectively. This lower viscosity could facilitate extraction and processing operations.

Drilling data revealed a 35.2-metre oil column, with approximately 11.2 metres of pay in the Gamba formation. The well was drilled by the Norve jack-up rig to a total depth of 4,731 metres.

Implications for BW Energy’s reserves

The Bourdon discovery will allow BW Energy to add additional reserves to its balance sheet, reserves that were not included in its 2024 Reserves Statement. The Bourdon field is located approximately 15 kilometres from the FPSO BW Adolo unit and 7.5 kilometres from the MaBoMo facility, offering synergies with existing infrastructure. This discovery will contribute to supporting the company’s long-term production growth.

The expansion of the global oil and gas fishing market is accelerating on the back of offshore projects, with annual growth estimated at 5.7% according to The Insight Partners.
The Competition Bureau has required Schlumberger to divest major assets to finalise the acquisition of ChampionX, thereby reducing the risks of market concentration in Canada’s oilfield services sector. —
Saturn Oil & Gas Inc. confirms the acquisition of 1,608,182 common shares for a total amount of USD3.46mn, as part of its public buyback offer in Canada, resulting in a reduction of its free float.
OPEC slightly adjusts its production forecasts for 2025-2026 while projecting stable global demand growth, leaving OPEC+ significant room to increase supply without destabilizing global oil markets.
Talks between European Union member states stall on the adoption of the eighteenth sanctions package targeting Russian oil, due to ongoing disagreements over the proposed price ceiling.
Three new oil fields in Iraqi Kurdistan have been targeted by explosive drones, bringing the number of affected sites in this strategic region to five in one week, according to local authorities.
An explosion at 07:00 at an HKN Energy facility forced ShaMaran Petroleum to shut the Sarsang field while an inquiry determines damage and the impact on regional exports.
The Canadian producer issues USD 237 mn in senior notes at 6.875 % to repay bank debt, repurchase USD 73 mn of 2027 notes and push most of its maturity schedule to 2030.
BP revised upwards its production forecast for the second quarter of 2025, citing stronger-than-expected results from its US shale unit. However, lower oil prices and refinery maintenance shutdowns weighed on overall results.
Belgrade is engaged in complex negotiations with Washington to obtain a fifth extension of sanctions relief for the Serbian oil company NIS, which is majority-owned by Russian groups.
European Union ambassadors are close to reaching an agreement on a new sanctions package aimed at reducing the Russian oil price cap, with measures impacting several energy and financial sectors.
Backbone Infrastructure Nigeria Limited is investing $15bn to develop a 500,000-barrel-per-day oil refinery in Ondo State, a major project aimed at boosting Nigeria’s refining capacity.
The Central Energy Fund’s takeover of the Sapref refinery introduces major financial risks for South Africa, with the facility still offline and no clear restart strategy released so far.
PetroTal Corp. records production growth in the second quarter of 2025, improves its cash position and continues replacing key equipment at its main oil sites in Peru.
An explosion caused by a homemade explosive device in northeastern Colombia has forced Cenit, a subsidiary of Ecopetrol, to temporarily suspend operations on the strategic Caño Limón-Coveñas pipeline, crucial to the country's oil supply.
U.S. legislation eases access to federal lands for oil production, but fluctuations in crude prices may limit concrete impacts on investment and medium-term production, according to industry experts.
Permex Petroleum Corporation has completed a US$2mn fundraising by issuing convertible debentures, aimed at strengthening its cash position, without using intermediaries, and targeting a single institutional investor.
Petróleos de Venezuela S.A. (PDVSA) recorded $17.52bn in export sales in 2024, benefiting from increased volumes due to U.S. licences granted to foreign partners, according to an internal document seen by Reuters.
The detection of zinc in Mars crude extracted off the coast of Louisiana forced the US government to draw on its strategic reserves to support Gulf Coast refineries.
Commissioning of a 1.2-million-ton hydrocracking unit at the TANECO site confirms the industrial expansion of the complex and its ability to diversify refined fuel production.