BW Energy (BWE) is pleased to announce first oil from the Tortue Phase 2 field development project (Phase 2) in the Dussafu Marin Permit offshoreGabon . The Gamba well DTM-5H was successfully brought online as of 4 March, ahead of schedule. The second well, DTM-4H, is scheduled to come onstream in the coming week. Phase 2 consists of four production wells, tied back to the FPSO BW Adolo. The DTM-4H and DTM-5H are the first of two clusters. The second cluster is currently being drilled and is scheduled to begin production byJune 2020 . Total production after completion of Phase 2 is projected to be 17.3 - 21.6 kbopd gross for 2020 from six producing wells, compared with an average of 11.8 kbopd gross produced in 2019. "Tortue Phase 2 will provide a substantial increase in production this year and we are pleased to again have executed ahead of schedule. Following completion of Tortue Phase 2, we will seek to unlock additional reserves through a new exploration well in the Dussafu license where we so far have had 100% exploration success rate", saidCarl K. Arnet , CEO ofBW Energy . The Dussafu Marin JV consists ofBW Energy (Operator, 73.5% working interest),Tullow Oil (10% working interest),Gabon Oil Company (9% working interest) andPanoro Energy (7.5% working interest). For further information, please contact: Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76 ir@bwenergy.no AboutBW Energy :BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing FPSOs to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The main assets are 73.5% of the producing Dussafu Marine Permit offshoreGabon and a 95% interest in the Maromba field inBrazil , both operated by the Company. Total net 2P+2C reserves are 247 million barrels at the start of 2020 and gross average production from Dussafu was 11.8 kbopd in 2019. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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