Independent explorer Cairn Energy is looking to restart drilling offshore Senegal "shortly" with some 500 MMbbl extra resources in its sights, the firm said this morning.
The latest drilling program off Senegal, will include appraisal of the "world-class" SNE discovery, but also potential for further exploration drilling in the acreage, which could year the extra resource. It will also help firm up ongoing conceptual development planning, in which Cairn says a number of options, including phased development, are being looked at.
So far, appraisal of SNE has increased Cairn's 2C oil resources to 473 MMbbl with associated 2C oil in place in excess of 2.7 billion bbl.
Meanwhile, the firm expects the Kraken and Catcher developments in the North Sea, in which it is a partner, to come on stream in 2017.
Kraken remains on schedule with first oil anticipated in H1 2017. Latest gross capex estimate is >US$300 million (gross) or over 10% lower than sanction estimate. EnQuest is the operator with Cairn holding 29.5% interest.
On Catcher, operated by Premier Oil and 20% owned by Cairn, first oil is targeted for H2 2017, with the FPSO hull now in Singapore.
Further cost reductions have also been found on Catcher, with the latest gross capex estimate now 20% lower than at sanction.
On Skarfjell, the joint venture, in which Cairn has 20% interest, is working towards concept selection for field development, with a decision expected in Q4 this year.