The SNE oil field offshore Senegal contains more oil than initially estimated, according to a new report commissioned by field partner FAR Ltd.
FAR's previous estimates for so-called 2C contingent resources in the Cairn Energy operated field were 330 MMbbl. The latest estimate, by consultancy RISC, is a 2C contingent resource of 468 MMbbl - a 42% increase.
FAR estimates that the field would need to contain 200 MMbbl to make it economically viable to develop.
The SNE field was discovered in 2014, in deep water offshore Senegal. An appraisal well, SNE-2, was drilled last year and work is ongoing on a second appraisal well.
FAR managing director Cath Norman said: “This increase to FAR’s SNE oil field contingent resource estimates gives FAR increasing confidence that the SNE reservoirs are of such a scale and extent to justify a significant commercial development.
“Further, our current appraisal drilling program continues with the safe drilling of the SNE-3 well to total depth and we look forward to providing an update of the results of the SNE-3 well on the completion of the flow testing program.”
However, FAR warned: "The SNE discovery is at a very early stage of appraisal and will require significant further drilling, testing and studies before any commercial development scheme could be defined."
The second SNE appraisal well (SNE- 3) is currently undergoing preparations for a drill stem testing program following the successful drilling, coring and wireline logging of the well. SNE-3 has been drilled approximately 3km south of SNE-1 at a location designed to evaluate the mid reservoir and upper “hetrolithic” reservoir sections.
This well will be followed by BEL-1, to be drilled into the Bellatrix prospect and evaluate the Buried Hill exploration play as well as being deepened to appraise the northern part of the SNE oil field.