BW Offshore: Successful Completion of First Production Well at Tortue

BW Offshore is pleased to announce the successful drilling and completion of the first development well, DTM-2H, located in the Tortue field, within the Dussafu License, offshore Gabon. 

Drilling of the oil production well commenced in late January 2018 and was completed with no safety-related incidents, on schedule and within budget. Interpretation of the logging results indicates that the well was entirely consistent with pre-drill prognosis and objectives. DTM-2H was drilled and completed as a horizontal production well in the Dentale D6 reservoir and encountered a long horizontal section of oil-saturated Dentale D6 sandstone. 

Following demobilisation at the DTM-2H well, the Borr Norve drilling rig will commence operations on the DTM-3 appraisal well to the northwest on the Tortue field. After completion, the rig is scheduled to drill and complete the horizontal oil production well, DTM-3H, in the Gamba sandstone. Drilling operations are expected to continue until the end of June.

"I would like to congratulate our project team for reaching this important milestone in the commercialisation of the Dussafu license," said Carl K. Arnet, CEO of BW Offshore. "We are confident that our dedicated team of professionals within disciplines such as HSE, drilling engineering, geosciences, finance, supply chain and management, will continue to move this project forward in a safe and efficient manner." 

For further information, please contact: 
Knut R. Sæthre, CFO, +47 911 17 876
IR@bwoffshore.com or www.bwoffshore.com

About BW Offshore:
BW Offshore is a leading global provider of floating production services to the oil and gas industry. BW Offshore has a fleet of 15 FPSOs and one FSO represented in all major oil & gas regions world-wide. BW Offshore has a long track record on project execution and operations. In more than 30 years of production, BW Offshore has executed 39 FPSO and FSO projects. The company is listed on the Oslo Stock Exchange.

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.