Petroleum Africa
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Thursday, April 14, 2016
FAR Ltd. commissioned RISC Operations Pty Ltd (RISC) to update an Independent Resources Report for the SNE oil field offshore Senegal following the drilling of two successful appraisal wells, SNE-2 and SNE-3, which led to an increase in resources.
The report was prepared as part of an ongoing evaluation of the drilling program being undertaken by FAR and their partners in the Senegal JV.
According to FAR the SNE contingent resources set out in RISC’s report represent a material increase to the estimates previously reported by FAR in February, with the SNE field 2C contingent resource increasing by 20% to 561 million barrels.
RISC reviewed and modified a probabilistic resource evaluation carried out by FAR in accordance with industry standard SPE-PRMS definitions.
FAR has requested RISC to update its independent assessment of SNE contingent resources following results from each of the wells in the ongoing SNE appraisal program. The next resource assessment will use the results from the latest well drilled, the BEL-1 well.
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