BW Energy: Makes Final Investment Decision for the Golfinho Boost project in Brazil

Core Viewpoint - BW Energy has made a final investment decision for the Golfinho Boost project in Brazil, which aims to enhance oil production and operational efficiency starting in 2027 [1][3]. Group 1: Project Details - The Golfinho Boost project is expected to add approximately 3,000 barrels per day of incremental oil production and increase recoverable reserves by about 12 million barrels [1][2]. - The total investment budget for the project is USD 107 million, which will be allocated to various efficiency-boosting measures including upgrades to subsea systems and reopening of shut-in wells [2]. Group 2: Strategic Importance - The project is part of BW Energy's strategy to strengthen its position in Brazil by enhancing production and operational independence, which is anticipated to unlock long-term value for the company and its stakeholders [3]. - The Golfinho field, located in the Espírito Santo Basin, has been producing since 2007 and is operated by BW Energy, which holds a 100% working interest following a recent acquisition [4]. Group 3: Future Communication - Further information regarding the Golfinho Boost project will be disclosed during the first quarter 2025 earnings release and presentation scheduled for May 5, 2025, in Oslo, Norway [5].