Petroleum Africa
Find us on: 
Wednesday, October 20, 2021
As previously guided, there were no BW Energy liftings in the quarter. Production cost (excluding royalties) was approximately USD 36 per barrel. While the absolute production cost remained stable, the unit cost expressed reflects the lower production rate realized in the third quarter. The overall production cost includes approximately USD 1.5 million of costs related to the continued handling of the COVID-19 pandemic through the period. Third quarter revenue is expected to reflect approximately 195,000 barrels of quarterly Domestic Market Obligation (DMO) deliveries with an under-lift position of around 203,000 barrels at the end of the period.
BW Energy had a cash balance of USD 170 million at 30 September 2021, compared to USD 216 million at 30 June 2021. The decrease is mainly due to investment activities related to Tortue Phase 2, progress on the Hibiscus/Ruche project, as well as completing the exploration drilling campaign in Dussafu.
BW Energy has scheduled a webcast for 23 November 2021 where the company will provide a comprehensive presentation of operations and ongoing development projects.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
