Morocco’s Foum Assaka well to spud in March this year

offshore morocco-QR9iudjz0 sxc.huThe licence area, covering around 6,478 sq km, consists of four exploration permits and is located in the Agadir Basin. (Image source: QR9iudjz0/sxc.hu)Kosmos Energy has confirmed that the FA-1 well, located in the Foum Assaka license area offshore Morocco, will spud in March 2014

According to partner Fastnet Oil & Gas, the FA-1 well will target the Eagle prospect, which is estimated to contain resources of 360mn barrels of oil equivalent in its primary deep-water, lower Cretaceous reservoir objective.

The well will also target multiple secondary objectives, it said.

The planned target depth of the well is 4,000 metres in water depth of approximately 600 metres. The drilling — which will be carried out by the Maersk Discoverer (DW semi-sub) — is expected to take up to three months to reach target depth.

Paul Griffiths, MD of Fastnet Oil & Gas, said, “This well and the multiple drilling opportunities that surround it, offer the company potentially significant high impact upside at minimal expected financial risk following the farm-out agreement reached late last year with SK Innovation, a multinational company we are very pleased to be partnering with. We are, as such, delighted to have certainty on the timing of the well and look forward to operations progressing in March.”

Fastnet Oil & Gas holds a 9.4 per cent interest in the Foum Assaka license while operator Kosmos Energy has 29.9 per cent. BP, SK Innovation and the Moroccan government own 26.4 per cent, 9.4 per cent and 25 per cent respectively.

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