Cairn Energy is planning an up to six-well exploration campaign offshore Senegal, starting this year, after making potentially the largest global oil discovery in the country's waters last year.
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Image from Cairn. |
Cairn said, based on early evaluation of its 2014 exploration campaign results, a program of three firm and three optional exploration and appraisal wells, starting in 2015, was being considered.
Cairn's success in Senegal last year comprised discoveries on the FAN-1 and SNE-1 wells. The discoveries were in two separate plays and have significant follow on potential, says Cairn. The SNE-1 discovery recognized as potentially the largest global oil discovery in 2014, Cairn says.
FAN-1 discovered high quality, light oil in multiple stacked deepwater fans, SNE-1 discovered high quality oil in the upper clastic target of the Shelf Edge prospect. Preliminary estimates of the gross Contingent Resource for SNE-1 are: P50, 330 MMbbls recoverable. Initial gross STOIIP estimates for the FAN-1 well: P50, 950 MMbbls.
Ian Tyler, Cairn's chairman said: "Senegal presents an exciting opportunity which we continue to evaluate. As a result of the reduction in oil prices, Cairn is able to benefit from substantially lower industry costs as we prepare for the 2015 appraisal and exploration program."
Cairn has a 40% working interest (WI) as operator in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore and Rufisque); ConocoPhillips has 35% WI, FAR Ltd. 15% WI and Petrosen, the national oil company of Senegal, 10%. The three blocks cover 7490sq km.
Read more:
Cairn targets 2015 Senegal campaign
Cairn - second Senegal target dry
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