FAR wins additional acreage offshore Kenya

rig  Kris Krug1With recently acquired processed 3D seismic data, FAR has identified a number of play types and prospects in the L6 permit. (Image source: Kris Krug/Flickr)Kenya has confirmed a 60 per cent expansion of oil and gas explorer FAR’s L6 exploration permit off the coast of the East African nation

This additional area, which had previously been relinquished and has now been reinstated, increases the total permit area to 5,010 sq km.

From recently acquired processed 3D seismic data and earlier 2D seismic data, both of which partially cover this new acreage, FAR has identified a number of play types and prospects in the L6 permit.

Significantly, FAR has interpreted a new play type, the Miocene carbonate reef play, which extends into the newly-awarded acreage.

The company has estimated that the new acreage has prospective resources of 773mn barrels of oil, which has brought the prospective resource estimate for the total L6 permit to 3,962mn barrels of oil.

FAR managing director Cath Norman said, “Being the longest standing operator of exploration acreage in the Kenyan Lamu basin, this award speaks to our good standing in the country.

“With our increased acreage in L6, in conjunction with our existing L9 permit, FAR has now established a significant acreage position over the carbonate reef play, which a number of companies have now recognised as having great potential. Being the first company to have acquired modern 3D data over the carbonate reef play, FAR shareholders are well-positioned to benefit from this potential.”

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