Petroleum Africa
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Monday, November 10, 2014
FAR Ltd. released word that drilling of the SNE-1 well has led to its second oil discovery offshore Senegal on the Sangomar Block. The well discovered a 95-meter gross oil bearing column with net oil pay zone thickness of 36 meters in Albian-aged sandstones which display excellent reservoir potential.
Notices of Discovery for the SNE-1 well and its previous discovery, the FAN-1 well, have been issued to the government of Senegal.
Cairn Energy, the operator of the Sangomar Block, said preliminary estimates of the gross contingent resource range from P90, 150 mmbbls, P50, 330 mmbbls and P10, 670 mmbbls.
FAR said that further evaluation of this Albian objective is continuing. The deeper target of karstified and fractured Lower Cretaceous (Aptian age) shelf carbonates is yet to be reached.
The results of the FAN-1 well and the final analysis from the SNE-1 will be used to decide optimal follow up drilling locations to determine the extent of discovered accumulations and to evaluate the wider potential identified within the JV’s Senegal blocks. This additional activity is targeted to start in 2015.
FAR Managing Director, Cath Norman, said, “This is another very significant oil find for FAR and Senegal. Based on preliminary estimates it is highly likely to be a commercial discovery.”
“The SNE-1 discovery is a company making event for FAR following our earlier oil discovery in the FAN-1 well. The SNE-1 discovery has potential to lead to a large stand-alone development and is an important step forward in establishing an entirely new petroleum province which would be transformational for Senegal.”
“It is incredible that FAR has made two very important oil discoveries with its first two Senegal wells. We expect to resume drilling on the SNE-1 well shortly to evaluate the deeper Aptian carbonate objective.”
“The FAN-1 well intersected a significant gross 500-meter oil-bearing section which indicates the presence of a prolific oil generating province. The SNE-1 well proves hydrocarbons have migrated up onto the shelf area which bodes well for the extensive suite of prospects yet to be drilled in our Senegal blocks.”
“FAR looks forward to working with the government of Senegal and our joint venture partners in finalizing follow up appraisal and exploration drilling plans.”
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