BW Energy Reviews Gabon Drilling Schedule After Prospector 5 Rig Sinks

BW Energy is reviewing the drilling schedule for its MaBoMo Phase 2 project offshore Gabon after the sinking of the Prospector 5 jack-up rig disrupted preparations for the campaign.

The Norwegian oil and gas company had planned to bring additional production online in the first quarter of 2027. However, the incident has forced it to reconsider the timing of drilling activities at the Dussafu permit.

In its third-quarter financial report, published on October 29, BW Energy said it was reassessing the drilling schedule to accommodate the remaining work within a broader drilling programme at Dussafu. The company has not announced a revised timeline.

The Prospector 5 rig sank on October 24 while preparing for the MaBoMo Phase 2 campaign. The rig belonged to Borr Drilling, which confirmed that three bodies had been located inside the wreckage by October 29, while two people remained missing. Gabonese authorities had previously reported the death of an Indian national.

MaBoMo Phase 2 Production Delayed

Before the accident, BW Energy planned to drill four new production wells as part of MaBoMo Phase 2, following work on an existing well. The programme also included a fifth well targeting the Hibiscus 10P2 discovery, which holds an estimated 6 million barrels of recoverable oil.

The new wells were expected to begin producing in the first quarter of 2027. The delay puts that schedule under review as BW Energy works to reorganise its drilling activities.

The company has also identified additional development potential at Dussafu. Earlier appraisal drilling confirmed oil in two areas, where BW Energy estimates recoverable resources of between 8 million and 9 million barrels. These resources could support the development of two further production wells.

The revised drilling programme will determine how BW Energy incorporates these opportunities alongside the delayed MaBoMo Phase 2 work.

Capital Spending Forecast Suspended

The accident has also affected BW Energy's financial planning. The company has suspended its 2026 capital expenditure forecast, which previously stood at between US$600 million and US$650 million.

BW Energy expects spending to come in below that range but has not provided a revised figure. The change comes as the company reassesses the timing of its drilling activities and associated investment requirements.

Despite the disruption in Gabon, BW Energy has retained its target of achieving net production of more than 100,000 barrels of oil per day by 2028.

The target includes contributions from its assets in Gabon and Brazil, as well as its planned expansion into Angola. The company has not indicated that the Prospector 5 incident has changed that longer-term production objective.