Petroleum Africa
Find us on: 
Monday, May 5, 2014
Due to the ongoing elections in Guinea Bissau, Svenska Petroleum Exploration and FAR Ltd. have decided to postpone the drilling of their first well until March 2015. The JV partners saw the government approve a three-year extension to their current exploration term in December 2012, which currently has no work obligations.
The partners had approved a work program and budget which includes one firm appraisal well and one contingent exploration well; a revised budget and work program for the 2014 period is being compiled.
The Sinapa appraisal well will be drilled within the Sinapa oil field discovered by Premier in 2004. If this well is a commercial success then a further exploration well will be drilled. FAR has a 21.43% paying interest and 15% working interest in the Sinapa and Esperanca blocks offshore Guinea Bissau. During the quarter FAR completed an internal assessment of the contingent and prospective resources in its Guinea-Bissau blocks.
FAR continues to monitor the political situation in Guinea-Bissau very closely and is in discussions with Svenska, the operator, on future plans and expenditures in light of potential developments in country. Democratic elections have been scheduled to conclude this month.
" 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">
