The Bourdon prospect is an offshore oil discovery within the Dussafu licence, offshore Gabon.
BW Energy holds a 73.5% interest and is the operator of the prospect, while Panoro holds 17.5% and Gabon Oil Company (GOC) holds the remaining 9%.
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The final investment decision (FID) on the Bourdon phase one development was taken in May 2026.
The project is expected to require an estimated investment of $300m, including approximately $100m before first oil.
First oil from Bourdon phase one is anticipated in the first quarter (Q1) of 2028.
Bourdon field location
The Bourdon prospect is located within the Dussafu licence, in the 850km² Ruche Exclusive Exploitation Area (Ruche EEA).
The area contains several identified oil accumulations and multiple exploration targets, with average water depths of 116m (380.5ft).
The Ruche EEA Production Sharing Contract permits hydrocarbon production for up to 20 years after initial commercial output. Commercial production from the area began in September 2018.
Discovery and appraisal
Drilling of the DBM-1 exploration well resulted in the Bourdon oil discovery in March 2025 and identified the largest hydrocarbon column recorded in the Dussafu licence. The Borr Norve jack-up rig drilled the well to a total depth of 4,135m.
Formation pressure data and well logs indicated approximately 34m of pay within a 45m hydrocarbon column in the Gamba formation, a pre-salt reservoir with excellent quality.
Two side-track wells, DBM-1 ST1 and DBM-1 ST2, were drilled in March and April. The DBM-1 ST2 side-track well confirmed the Bourdon reservoir’s continuity. The well intersected roughly 11m of net oil pay within an approximate 35m gross hydrocarbon column in the Gamba formation.
An appraisal drilling programme is planned for 2028 as part of the phase one development.
Reserves of the Bourdon oil field
The first phase of the Bourdon oil field development is estimated to contain gross 2P reserves of 25 million barrels of oil equivalent (mboe), of which approximately 100% is oil.
The oil discovered at the field has a much lower viscosity compared to other Gamba sandstone fluids found within the Dussafu licence. The lower viscosity will make it easier for the oil to be transported to the central processing facility and reduce costs.
Additionally, the oil contains low sulphur content and an average higher API density that meets international standards.
Bourdon oil field development details
The first-phase development plan includes the conversion of the Akoum rig, previously known as Jasmine Alpha, into a wellhead platform.
Initial production is planned from three wells, while the platform will have 12 well slots supporting later development phases and potential development of nearby prospects.
Production will be transported to the BW Adolo floating production, storage and offloading (FPSO) vessel for processing and offloading, using existing available capacity and requiring no additional FPSO infrastructure.
The BW Adolo FPSO operates at the Tortue oil field, one of five proven discoveries in the Dussafu licence. The converted very large crude carrier (VLCC) has a storage capacity of up to 1.35 million barrels of oil and a production capacity of up to 40,000 barrels of oil per day (bopd).
Project financing
In October 2026, BW Energy secured a $208m project-level lease financing arrangement with Minsheng Financial Leasing (MSFL) for the Akoum wellhead platform.
The 12-year lease arrangement replaces a previously announced short-term structure and covers 100% of the capital expenditure for the platform. It includes a firm period of eight years and an option to extend the agreement by a further four years. Lease costs will be allocated among the Dussafu licence partners according to their participating interests.
BW Energy also agreed to an 18-month extension to its $250m corporate revolving credit facility (RCF) with DNB Bank. The RCF offers greater financial flexibility to fund the company’s ongoing field development activities and broader corporate requirements.
