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Thursday, August 20, 2015
Cairn Energy will spend a goodly amount of funds from its capex over H2 2015 and H1 2016 on its exploration and appraisal program in Senegal. The government of Senegal has agreed on an extensive evaluation plan that Cairn and its partners submitted in Q2. According to Cairn’s latest release the sequence, location, and evaluation targets of the three firm wells are being finalized along with details of the 3D seismic acquisition activity.
The company estimates that the two discoveries made in Q4 2014 and the currently identified prospects and leads have an estimated gross mean risked resource base of more than a billion barrels. The objective of the 2015/16 forward program is to establish firm volumes of the SNE-1 discovery in the Sangomar Deep Offshore block and to confirm and evaluate additional nearby prospects.
The appraisal and exploration program will also substantially increase Cairn’s understanding of the aerial extent of hydrocarbons across all three blocks. There will be comprehensive coring and testing in the evaluation program to assess field deliverability and to build a detailed geological reservoir model, from which reservoir connectivity can be demonstrated. This comprehensive information will allow the JV to determine the further oil potential of the SNE-1 discovery and underpin the longer term field development plan.
The Ocean Rig Athena, which is under long term contract with partner ConocoPhillips, has been selected for the drilling program and is expected to commence operations in Q4. The firm 2015/16 drilling campaign will consist of the first appraisal well, the SNE-2 well in the Saangomar Deep Offshore Block. The SNE-2 well will spud in Q4 and take approximately six weeks to drill and core and a further four weeks to test. This well will be followed by the SNE-3 appraisal well, which is expected to begin drilling Q4 2015/Q1 2016. This well will test the southern extent of the field and will help to delineate the shape of the structure and define the aerial extension to the south. This is a key well to establish deliverability and the full potential of the field.
The third well in the Senegal program will be an exploration well, the BEL-1; but is also expected to be deepened as an SNE appraisal well and will commence operations in Q1/Q2 2016. This well will test the Bellatrix prospect and also evaluate the Northern Flank of the SNE field.
The seismic acquisition activity, scheduled to commence Q3 2015, will cover a 2,600 sq km area over the Sangomar Offshore block and the south west part of the Rufisque block where 15 leads have already been identified. The objective is to develop additional prospectivity to a drill ready status within 2016.
Cairn expects that the partners will present the program planned for 2016/2017 to the government in September.
Simon Thomson chief executive of Cairn said:“We are delighted to have agreement from the Government of Senegal for our extensive evaluation plan which commences shortly with a 3D seismic survey and continues later this year with a multi-well exploration and appraisal program.Cairn estimates that the two discoveries made in Q4 2014 and the currently identified prospects and leads have a gross mean risked resource base of more than one billion barrels.Our aim is to maximize the value of our Senegal asset within a balanced, well-funded company. Cairn is well placed to take advantage of this exciting opportunity as we build on the success of last year’s discoveries.”
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