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BW Energy Sanctions Bourdon and Golfinho Projects Targeting 100,000 bopd by 2028 – News and Statistics

Gabon
BW Energy Sanctions Bourdon and Golfinho Projects Targeting 100,000 bopd by 2028 – News and Statistics

May 20, 2026

BW Energy, an Oslo-listed oil and gas exploration and production company, has announced a major production expansion initiative. According to a report from Offshore Energy, the firm has taken a final investment decision for a project offshore Gabon and is planning an infill well campaign in Brazil.

The two sanctioned projects, located in the Dussafu license offshore Gabon and the Golfinho license offshore Brazil, carry a combined total of 68 million barrels of oil equivalent in 2P reserves. The company stated that these efforts reflect its growth strategy, which focuses on infrastructure-led phased developments to minimize capital risk and deliver high returns.

BW Energy anticipates that these projects will increase its net production target by roughly 10%, reaching more than 100,000 barrels of oil per day in 2028, and help sustain that level into the following decade. The Bourdon Phase 1 development in Gabon, which holds 25 million boe in gross 2P reserves, is targeting first oil in the first quarter of 2028. This phase involves converting the Akoum rig into a new wellhead platform with a 12-slot wellbay. Initial production is expected from three wells, with future phases potentially tapping into an additional 200 million boe in place near Bourdon.

The company has disclosed a net capital expenditure of $300 million for Bourdon, with about $100 million to be spent before first oil, supported by a sale-and-leaseback agreement with Minsheng. BW Energy confirmed that a term sheet has been signed for a long-term lease, expected to cover all wellhead platform capital expenditure before first oil. The internal rate of return for Bourdon is above 25% at $60 per barrel, with a breakeven point of $45 per barrel at a 10% discount rate. Partners in the Bourdon project include BW Energy as operator with a 73.5% working interest, Panoro with 17.5%, and Gabon Oil Company with 9.0%.

In Brazil, the new Golfinho wells involve 50 million boe in 2P reserves, of which 42% is oil and 58% gas, with first oil targeted at the end of 2028. This campaign is expected to triple production from the area to approximately 30,000 barrels of oil per day starting in 2029. The campaign includes four new wells—three in the Golfinho license and one in the Camarupim license—at proven locations, all to be tied back to the FPSO Golfinho and utilizing the existing gas export pipeline to shore.

The net capital expenditure for the Brazilian campaign is $450 million, with $170 million committed to long-lead items and $280 million having flexibility on timing of spending up to six months before first oil. The company reports a low development cost of roughly $9 per barrel, enabled by the existing infrastructure. The internal rate of return for this project is above 50% at $60 per barrel, with a breakeven of $40 per barrel at a 10% discount rate. BW Energy is the operator with a 100% working interest in the Brazilian licenses.

BW Energy’s CEO noted that the two projects add highly profitable production in licenses with proven reserves and multiple growth opportunities. He added that by repurposing existing energy assets and using a phased approach, the company has optimized development solutions with low-cost infrastructure-backed financing, resulting in high-return projects that increase net production to above 100,000 barrels of oil per day in 2028 and position the firm to sustain that level into the next decade.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
    5. MARKET FORECAST TO 2035

  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2025)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025)

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2025)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025)

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2025
    2. Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    3. Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
    4. Per Capita Consumption: Historical Data (2012–2025) and Forecast (2026–2035)
    5. Imports, In Physical Terms, By Country, 2012–2025
    6. Imports, In Value Terms, By Country, 2012–2025
    7. Import Prices, By Country, 2012–2025
    8. Exports, In Physical Terms, By Country, 2012–2025
    9. Exports, In Value Terms, By Country, 2012–2025
    10. Export Prices, By Country, 2012–2025

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    2. Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
    3. Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    4. Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    5. Trade Balance, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    6. Trade Balance, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    7. Per Capita Consumption: Historical Data (2012–2025) and Forecast (2026–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, By Product
    11. Average Per Capita Consumption, By Product
    12. Exports and Growth, By Product
    13. Export Prices and Growth, By Product
    14. Production Volume and Growth
    15. Exports and Growth
    16. Export Prices and Growth
    17. Market Size and Growth
    18. Per Capita Consumption
    19. Imports and Growth
    20. Import Prices
    21. Production, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    22. Production, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    23. Imports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    24. Imports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    25. Imports, In Physical Terms, By Country, 2025
    26. Imports, In Physical Terms, By Country, 2012–2025
    27. Imports, In Value Terms, By Country, 2012–2025
    28. Import Prices, By Country, 2012–2025
    29. Exports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    30. Exports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    31. Exports, In Physical Terms, By Country, 2025
    32. Exports, In Physical Terms, By Country, 2012–2025
    33. Exports, In Value Terms, By Country, 2012–2025
    34. Export Prices, By Country, 2012–2025

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