BW Offshore: Company presentation providing an update on the Oil & Gas segment
08 January 2018 - 10:00PM
BW Offshore is today hosting a
presentation focusing on the company's Gabon/Dussafu license field
development activities, particularly giving details of progress in
bringing on-stream the Tortue Field. The presentation is
attached.
The presentation also contains new
preliminary reserve estimates for Tortue from independent reserves
auditors Netherland, Sewell & Associates Inc. (NSAI) from
December 2017.
NSAI has calculated the following
estimates of total gross economically recoverable oil reserves,
derived from the assumed production from four oil wells in the
Tortue field:
*Proved
(1P) reserves of 15.9 million bbls
*Proved
+ Probable (2P) reserves of 23.5 million bbls
*Proved
+ Probable + Possible (3P) reserves of 31.4 million bbls
The NSAI reserves review does not
include the other 3 discovered fields in the license, known as
Ruche, Moubenga and Walt Whitman. Also, the independent reserves
review does not address prospective resources within the EEA.
The event is being held today, 8
January 2018, at 13:00 CET at The Thief, Landgangen 1 in Oslo,
Norway and is hosted by CEO Carl K. Arnet and Lin Espey, Managing
Director of BW Energy.
The presentation will be broadcast
via webcast, and will also be available for replay. Please visit
www.bwoffshore.com for access details.
For further information, please contact:
Knut R. Sæthre, CFO, +47 911 17 876
IR@bwoffshore.com or www.bwoffshore.com
About BW Offshore:
BW Offshore is a leading global provider of
floating production services to the oil and gas industry. BW
Offshore has a fleet of 15 owned FPSOs and one FSO, operating in
all major oil & gas regions, world-wide. BW Offshore has a
track record of project execution and production operations
extending over more than 30 years. In this time BW Offshore has
executed 38 FPSO and FSO projects. The company is listed on the
Oslo Stock Exchange. Further information is available at
www.bwoffshore.com.
This information is subject to the disclosure
requirements pursuant to section 5 -12 of the Norwegian Securities
Trading Act.
Company Update-Oil and Gas
Segment
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: BW Offshore via Globenewswire
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