FAR ups Senegal resources

February 7, 2017

FAR Ltd. says it has identified more than 1.5 billion bbl of undrilled oil prospectivity in its acreage offshore Senegal through the interpretation of new 3D seismic data.

The Stena DRILLMAX is currently drilling the SNE-5 well. Image from Stena.

The seismic was acquired in 2015, and has been integrated with previous 3D seismic and well data.

Of the 1.56 billion bbl prospective, gross, unrisked recoverable oil resources (P50), 234 MMbbl are net to FAR, which holds 15% interest in the Rufisque, Sangomar and Sangomar Deep (RSSD) joint venture.

In addition to the undrilled prospects, the 2C recoverable resource in the SNE discovery is 641 MMbbl, with 96 MMbbl net to FAR.

“We have approximately 7500sq km of area under license in Senegal and given success in our discoveries in the FAN-1 and SNE-1 wells and subsequent successful appraisal of the SNE oil field, we know we have a prolific working source rock, excellent reservoir development in the area and a good working seal,” says FAR Managing Director Cath Norman.

“The new 3D seismic data has allowed us to get confidence in mapping traps along the extension of the SNE trend and also new plays and prospects in the acreage.”

FAR is currently drilling SNE-5, the fifth well to appraise the SNE oil field, which will be followed by SNE-6.

FAR prospects mapped from Sangomar and RSSD 3D seismic and approximate tie back area. Map from FAR.

“Because of the relatively low cost of drilling in deepwater at present, our JV has negotiated additional optional drilling slots for the rig. It is likely that one of these exploration targets will be drilled following the current two well campaign,” says Norman. “Several prospects are located within tie-back distance to a future SNE production hub. These prospects have the potential to deliver high value barrels, because they can be developed quickly and at relatively low cost as a subsea tie-back to SNE infrastructure.”

Operator of RSSD JV, Cairn Energy, has said that any new discovery located within a 30km radius from the SNE FPSO, would be a candidate for a subsea tieback to an SNE production hub.

These potential tie-back prospects have very attractive economics because they contain the second highest NPV barrels after those located within the SNE field because of their relatively low development cost and quick timing to develop through a subsea connection back to a centrally located production hub which eliminates costly duplication of key infrastructure, according to FAR.

An updated independent resources report on the exploration potential of FAR’s RSSD offshore blocks, completed by RISC Operations, is based on the reinterpretation of the company’s existing high quality 3D seismic data and new 2400sq km 3D seismic acquired over blocks in late 2015.

Four main Senegal exploration plays have been identified based on Shelf and Basin concepts, including the Early Cretaceous Albian Shelf Play houses the SNE oil field; Sirius and Spica prospects are analogous to the SNE oil field and are located along the shelf edge trend to north of SNE; Albian Fan Play; Late Cretaceous Shelf Play; and the Central FAN and South Fan are Late Cretaceous Basin canyon fed slope plays.

Read more:

Cairn spuds first 2017 SNE well, Senegal

FAR exercises Senegal pre-emption rights



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