Drilling platform sinks in Gabon

A self-elevating drilling platform named Prospector 5, owned by Borr Drilling, sank in Gabon on October 24 during preparations for the MaBoMo Phase 2 drilling campaign. The incident forced BW Energy, a Norwegian oil company, to revise its development schedule for its Dussafu permit in the country.

Casualties reported from the incident

As of October 29, three bodies had been recovered from the wreckage of the platform, while two people were still missing, according to Borr Drilling. Gabonese authorities had previously confirmed the death of an Indian national linked to the incident.

BW Energy’s original drilling plans

Before the incident, BW Energy had planned to drill four new production wells as part of the MaBoMo Phase 2 campaign, with a fifth well intended to exploit the Hibiscus 10P2 discovery. This area is estimated to contain recoverable oil resources of about 6 million barrels.

Revised estimates and production goals

BW Energy has suspended its 2026 investment expenditure forecasts, which were previously expected to range between $600 million and $650 million. The company now estimates that expenses could be lower than this range but has not provided a new definitive amount.

Long-term production targets remain unchanged

Despite the uncertainties caused by the incident, BW Energy continues to aim for net production of more than 100,000 barrels per day by 2028. This goal is based on the development of its assets in Gabon and Brazil, as well as its planned entry into Angola.