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Thursday, March 22, 2018
FAR completed detailed geotechnical studies and reviewed the contingent resources attributed to the FAN discovery and prospective hydrocarbon resource potential in its Rufisque, Sangomar and Sangomar Deep (RSSD) Permits, offshore Senegal. The RSSD blocks are home to the giant SNE oil field, discovered in 2014 by FAR and its partners in a two-well exploration drilling campaign offshore Senegal.
The discovery of the SNE oil field and oil in the FAN-1 well (that was drilled into the deepwater FAN prospect) were the first wells to be drilled in deepwater offshore Senegal and opened up what is now a global hotspot for oil and gas exploration.
Independent Resources Report completed by RISC for FAR’s FAN oil discovery and undrilled exploration prospects, offshore Senegal put 2C Contingent recoverable oil resource at 198 million barrels in the FAN discovery. Undrilled prospects in total have prospective resources of 673million barrels oil (best estimate).
FAR and its JV partners have completed the appraisal drilling over the SNE oil field during the 2016 and 2017 drilling campaigns. The field is currently progressing towards FID in 2019 following the approval of the exploitation plan by the government of Senegal which is expected by the end of 2018.
The SNE field development will be phased and it is anticipated that nearby discoveries that are within tie-back distance of the SNE field, will be developed in later phases. The focus of the joint venture has to date been to mature a commercial development of the SNE field before finalizing assessment of these tie back opportunities.
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