Oil and gas exploration company Cairn Energy alongside its joint venture partners has announced that the FAN-1 exploration well, offshore Senegal has discovered oil
The well, located in 1,427 metres water depth and around 100 km offshore in the Sangomar Deep block, has reached a Target Depth (TD) of 4,927 metres, stated Cairn Energy.
According to Cairn Energy, currently there are no plans in place to begin well testing and further evaluation will now be required to calibrate the well with the existing 3D seismic in order to determine future plans.
Once work comes to an end on the FAN-1 well, the rig will move to complete the second well, SNE-1, said the company.
"The oil discovered in the FAN-1 prospect is an important event for Senegal and the Joint Venture," said Simon Thomson CEO Cairn Energy PLC.
"We have encountered a very substantial oil bearing interval, which may have significant potential as a standalone discovery. Furthermore, this result materially upgrades the prospectivity of the block with a proven petroleum system and a number of deep fan and shelf prospects established," added Thomson.