Petroleum Africa
Find us on: 
Monday, June 30, 2014
FAR Ltd advised previously that Cairn Energy plc, the operator of the Senegal JV, had modified the Senegal drilling program in order to incorporate essential maintenance. Since then, Cairn revealed that the maintenance work is expected to be completed soon to allow drilling operations on FAN-1 to resume.
Drilling to date on FAN-1 has reached a depth of approximately 3,000 meters and is above the first reservoir objective. The plan remains to drill to a total depth of 5,300 meters TVD (total vertical depth).
The second Senegal well, SNE-1, is currently suspended and can be re-entered when required. The well has been drilled to a depth of 1,907 meters TVD and is planned to drill to a total depth of 3,292 meters TVD.
Based on the above mentioned amended drilling program, FAR anticipates there will be an increase to the budget for the Senegal offshore drilling campaign well costs. Currently FAR estimates that it could be required to contribute approximately A$24.2imllion to fund its share of costs of the drilling program. To date, FAR has received cash payments totaling A$22.2 million from its farm out deals with Cairn and ConocoPhillips.
Cath Norman, MD commented, “It is disappointing to have suffered a significant delay to drilling, but pleasingly once the current maintenance program is completed, we should reach our first target zone in a matter of days, not weeks. FAR completed two farm-out deals with Cairn and ConocoPhillips a year ago and has secured significant funding for this two-well Senegal drilling program that many in the international oil and gas industry are keenly watching. We are keen to see drilling resume as soon as possible.”
The FAN-1 well will test a stacked fan structure with the potential to contain approximately 900 million barrels of oil with approximately 135million barrels net to FAR and will be followed immediately in a back-to-back drilling program with the SNE-1 well to be drilled on the shelf targeting approximately 600 million barrels of oil.
FAR holds a 15% working interest, Cairn 40%, ConocoPhillips 35% and Petrosen a 10% working interest (fully carried).
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
