BW Energy Limited provided operation results for the first quarter of 2020. The company reported Dussafu daily operations continue to perform in line with expectations with four wells (DTM-2H, DTM-3H, DTM-4H and DTM-5H) producing to the FPSO BW Adolo at a current rate of approximately 17,500 bbls/day oil production (gross). Gross production from Tortue averaged 11,485 bbls/day for the first quarter of 2020 and total gross production was 1,045,100 bbls of oil. One lifting was completed by BW Energy in the quarter realising an average price of about USD 33 per barrel. Production cost (excluding royalty) was USD 21.8 per barrel. BW Energy share of gross production was 768,150 bbls of oil. Net sold volumes, which are the basis for revenue recognition in the financial statement, were 427,647 bbls, reflecting overlift position of 375,500 bbls at the end of the first quarter.

The company provided outlook for 2020. The company expected Total Dussafu production for 2020 is projected to be 15,000 - 16,500 bbls/day (gross) based on four producing wells, compared to 11,800 bbls/day on average in 2019, while OPEX per barrel is expected to decrease to approximately USD 16-18 per barrel, compared to USD 21 per barrel on average for 2019.