BW Energy has announced a final investment decision (FID) for the Golfinho Boost project in Brazil, earmarking US$107 million to enhance production capabilities at the Golfinho field, located in the Espírito Santo Basin.

The initiative aims to elevate production efficiency and augment oil output by approximately 3,000 barrels per day (bpd), commencing in 2027.

The project focuses on upgrading the subsea boosting system by replacing gas lift with electrical submersible pumps, reactivating closed wells, and replacing umbilicals.

Refinements to field logistics and the expansion of the floating production storage and offloading unit (FPSO) Cidade de Vitória capacity are also planned.

According to BW Energy, the enhancements are expected to increase recoverable reserves by an estimated 12mbbl.

BW Energy CEO Carl K. Arnet stated: “BW Energy continues to strengthen its position in Brazil through targeted measures on the Golfinho field to increase production, uptime and operational independence.

“The planned low-risk enhancements to field assets and operations offer very attractive returns and are expected to help unlock material long-term value creation for the company and its stakeholders.”

The Golfinho field, which has been active since 2007, is fully owned by BW Energy following the acquisition of the Golfinho and Camarupim Clusters in August 2023.

Hydrocarbons from the field have been processed by the FPSO vessel, operated by BW Energy, since November 2023.

In June of last year, BW Energy also confirmed an oil discovery in the Hibiscus area offshore Gabon, subsequent to the successful drilling of the DHIBM-7P pilot well.