BW Energy's Exciting Progress in Kharas-1 Appraisal Well
BW Energy has recently wrapped up drilling on the Kharas-1 appraisal well located in the Kudu license area, positioned offshore. The team has successfully reached a substantial total depth of 5,100 meters, revealing multiple promising reservoir intervals. Following the completion of drilling, the well will be plugged and abandoned as per the planned program.
Discovering Valuable Reservoirs
During the drilling process, several shallow turbidite reservoirs displaying dry-gas shows were encountered. The team is now diligently evaluating the reservoir characteristics from these discoveries, supplemented by data obtained from whole core samples.
Hydrocarbon Encounters in Deeper Reservoirs
Moreover, within the deeper section of the well, significant hydrocarbons were discovered within a fractured volcaniclastic reservoir. This find substantiates the existence of a working petroleum system indicative of both condensate and/or light oil. Further in-depth analyses are ongoing to better understand the extent and properties of this system.
CEO's Insights on the Findings
CEO Carl Arnet expressed optimism regarding the Kharas-1 findings, stating, "Kharas-1 achieved its technical objective of testing multiple targets within a single penetration and delivered valuable geological, geochemical, and petrophysical data. The results also confirm, for the first time, the presence of liquid hydrocarbons within the Kudu block and contribute to our understanding of the broader petroleum system. The reservoir complexity necessitates further appraisal to assess its potential. Our forward program will focus on further high-value targets based on the presence of liquid hydrocarbons, as well as gas and the learnings from Kharas-1A."
About BW Energy
BW Energy stands as a distinguished growth E&P company with a unique and innovative strategy aimed at targeting verified offshore oil and gas reservoirs through low-risk phased developments. The company is strategically positioned with access to existing production facilities, which considerably reduces the time to first oil and cash flow, all while maintaining lower investment levels compared to conventional offshore developments.
Exploration Assets and Future Outlook
The company’s asset portfolio boasts a 73.5% ownership stake in the producing Dussafu Marine license located offshore Gabon. Additionally, BW Energy holds a 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, and a 95% interest in the Maromba field in Brazil, along with a 95% interest in the Kudu field in Namibia—all operated by BW Energy. Moreover, the firm maintains approximately 7% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in onshore Petroleum Exploration Licence 73 in Namibia. Total net 2P+2C reserves and resources at the commencement of 2025 were an impressive 599 million barrels of oil equivalent.
For further inquiries, please connect with: Martin Seland Simensen, VP Investor Relations at ir@bwenergy.no
Frequently Asked Questions
What is the current status of the Kharas-1 appraisal well?
The Kharas-1 appraisal well has completed drilling, reaching a depth of 5,100 meters with multiple reservoir intervals discovered.
What hydrocarbons were found during the Kharas-1 appraisal?
Hydrocarbons were encountered in a fractured volcaniclastic reservoir, indicating the presence of liquid hydrocarbons, including condensate and light oil.
What does this exploration mean for BW Energy?
This exploration highlights BW Energy's growth potential and informs its strategy for future high-value targets in the Kudu block and beyond.
How significant are the findings from the Kharas-1 well?
The findings provide crucial geological, geochemical, and petrophysical data and confirm the presence of liquid hydrocarbons for the first time in the Kudu block.
What other assets does BW Energy hold?
BW Energy has a diverse portfolio, including interests in the Dussafu Marine license in Gabon, and significant stakes in various fields and blocks in Brazil and Namibia.
