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SNE FPSO tendering later this year

By  Wednesday, 23 August 2017 08:13

Tendering for a floating production unit and subsea systems for the SNE project offshore Senegal is set to start later this year, Cairn Energy says. 

The project, which has seen 2C resources increase from 473 MMbbl to 563 MMbbl, with 1 Tcf of gas resource, is set to be a phased development, starting with up to 25 wells, including water and gas injectors, targeting 240 MMbbl, with first oil targeted for 2021-23. Subsequent phases would add a further 40 wells, with 20 producers and 20 water injectors. 

The first phase, in the Sangomar Deep Offshore, would target the S500 lower reservoirs with an initial target plateau of 75,000-125,000 b/d. The subsequent development phases will target the S400 upper reservoirs and additional areas.

The current SNE development plans assume gas re-injection during initial development with the potential for gas export in later phases. It is estimated that the SNE field holds more than 1 TcF recoverable non-associated gas and 0.3 TcF of associated gas.

Partner Woodside is due to take over operatorship for the development phase next year, with Cairn continuing exploration activities on the acreage. The pair plan to submit an evaluation report and exploitation plan to the Government of Senegal in 2018, with front end engineering and design planned to start next year and a final investment decision targeted before the end of 2018.

Cairn says it is also continuing to focus on exploration potential around SNE. On the Rufisque and Sangomar offshore blocks, the pair are maturing multiple prospects on newly processed 3D seismic data with a view to potential further exploration drilling, which in a success case could potentially support a standalone development.

Cairn (Operator) has a 40% WI in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore and Rusique Offshore) alongside partners, Woodside (35%), FAR (15%) and the Senegal National Oil Company, Petrosen (10%). 

“With the upcoming Kraken and Catcher cashflow and debt funding, Cairn can probably fund the development of these projects,” says GMP Research. 

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2018-09-26 11:31:58am