BW Energy makes final investment decision for Brazil Golfinho Boost project

BW Energy announced a final investment decision (FID) for the Golfinho Boost project, aiming to increase uptime, reduce operating expenses and add approximately 3,000 barrels per day of incremental oil production from 2027 at the Golfinho field offshore Brazil.

The project includes multiple measures aimed at boosting production efficiency and increasing recoverable reserves by approximately 12 million barrels. The measures include upgrades to the subsea boosting system by replacing gas lift with Electrical Submersible Pumps (ESPs) at the seabed, reopening of shut-in wells, umbilicals replacement, improved field logistics and FPSO capacity enhancements. The total investment budget is $107 million.

The Golfinho field is in the Espírito Santo Basin with water depths between 800 and 1,700 m. BW Energy is the operator with 100% working interest in the Golfinho license following the August 2023 acquisition of the Golfinho and Camarupim Clusters. Hydrocarbons are produced to the FPSO Cidade de Vitória, which BW Energy acquired and has operated since November 2023. The field has been producing since 2007.