Cairn Energy is looking to develop its offshore oil discoveries in Senegal using a standalone Floating Production Storage and Offloading vessel, popularly known as FPSO. The FAN-1 and SNE-1 oil discoveries were announced in October and November 2014, respectively.
Those were the first exploration wells drilled in Senegal’s deep waters in almost three decades.
According to FAR Ltd., Cairn’s partners in SNE-1 and FAN-1 oil finds, first phase of the program to evaluate the discoveries is planned to start in the fourth quarter of this year.
The work program includes drilling of two wells to appraise the SNE-1 discovery and one exploration well likely to assess a “shelf” prospect.
Also, the program will include further evaluation of the FAN-1 discovery and a new 3D seismic survey over a part of the contract area including a portion of the Sangomar and Rufisque blocks. The partners will submit an evaluation work program to the Government of Senegal in May 2015.
Far Ltd. has said that Cairn is in the process of finding a suitable offshore drilling rig for the drilling campaign.
In its update to shareholders, Far Ltd. revealed that Cairn plans to develop the SNE-1, dubbed one of the world’s largest oil discoveries in 2014, using a FPSO vessel.
The development concept for the SNE field development consists of a standalone FPSO facility hub with potential to integrate nearby discoveries.
Following the discovery, Cairn’s contingent resource estimate for the SNE-1 was 330 mmbbls at P50 (50% probability), with a total range from 150mmbbls to 670 mmbbls.
Far Ltd. did not go into providing a timeline for final investment decision for the potential development.
Offshore Energy Today Staff