Australia’s FAR reveals more oil potential in offshore Senegal

offshore senegalAustralia's FAR Ltd has completed detailed geotechnical studies and reviewed the contingent resources attributed to the FAN discovery and prospective hydrocarbon resource potential in its Rufisque, Sangomar and Sangomar Deep (RSSD) Permits, offshore Senegal

RSSD blocks cover an area of approximately 7,500 sq km and are home to the giant SNE oil field, discovered in 2014 by FAR and its partners in a two-well exploration drilling campaign offshore Senegal. 

The discovery of the SNE oil field and oil in the FAN-1 well were the first wells to be drilled in deepwater offshore Senegal and opened up what is now a global hotspot for oil and gas exploration.

FAR and its joint venture partners have completed the appraisal drilling over the SNE oil field in the 2016 and 2017 drilling campaigns and the field is currently progressing towards Final Investment Decision (FID) in 2019 following the approval of the exploitation plan by the government of Senegal.

The SNE field development will be phased and it is anticipated that nearby discoveries that are within a tie-back distance of the SNE field, will be developed in later phases. The focus of the joint venture has to date been to mature a commercial development of the SNE field before finalising the assessment of these tie back opportunities.

The FAN discovery is approximately 20km from a development hub planned at the SNE field and hence is well within tie-back distance estimated to be approximately 30km. FAR has assessed the SNE field to contain 641mmbbl of oil.

FAR has further reviewed the undrilled prospects, integrating data from the 3D seismic survey acquired in 2015, reprocessed data from the existing 3D survey and data from the 11 successful oil wells now drilled in the RSSD acreage. These prospects have been reviewed by RISC and an Independent Resources Report for these prospective resources has been provided to FAR.

Cath Norman, managing director of FAR, said, “Alongside the giant SNE field, the FAN, FAN South and SNE discoveries are all within tie-back range of the planned hub development over SNE. The addition of more oil to the future phases of the development not only extends the life of the field but improves the longer-term economics of the development and revenues for the people of Senegal.”

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
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