Petroleum Africa
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Thursday, October 15, 2015
Partners offshore Senegal, Cairn Energy, ConocoPhillips, and FAR Ltd. have secured a rig for further drilling with the execution of contracts for the Ocean Rig Athena drillship.
The drillship is under long-term contract with ConocoPhillips who will play a key role in project managing the drilling program. The drillship is currently in Angola and FAR expects it will commence mobilization to Senegal in the next few days.
The firm drilling program includes three wells including two appraisal wells on the world class SNE-1 oil discovery that will include a coring and testing program, plus one shelf exploration well to further evaluate the shelf area prospectivity. This drilling, logging, coring and testing program is expected to be completed by mid- 2016.
The first two wells, the SNE-2 and SNE-3, will be drilled to appraise the SNE field and are aimed at progressing towards proving the threshold economic field size which FAR estimates is in the order of 200 million barrels for a foundation project. The third well, the BEL-1 well, in the drilling program will be the first exploration well to be drilled in the blocks following the discoveries in the FAN-1 and SNE-1 wells. This well will be aimed at building the resource base within tie-back range of a possible future hub development over the SNE field. It will be drilled into the Bellatrix Prospect which has been mapped by FAR to contain 168 million barrels of oil on a gross, unrisked, prospective resource basis.
Following the discovery of the SNE field on the shelf, FAR has applied a 49% chance of geological success to the Bellatrix prospect and notes that Cairn (operator) has applied an 80% chance of geological success to the prospect. FAR is encouraged by the presence of a strong seismic amplitude anomaly over the Bellatrix prospect that exists over the SNE field which is a strong indicator of the presence of hydrocarbons.
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