Cairn Energy finds oil offshore Senegal
Cairn Energy finds oil offshore Senegal
EDINBURGH, Scotland -- Cairn Energy has reported that its FAN-1 exploration well, offshore Senegal, has discovered oil.
The well, located in 1,427 m water depth and approximately 100 km offshore in the Sangomar Deep block, has reached a target depth of 4,927 m and was targeting multiple stacked deepwater fans.
Preliminary analysis indicates:
• A 29 m net oil bearing reservoir in Cretaceous sandstones
• No water contact was encountered in a gross oil bearing interval of more than 500 m
• Distinct oils types ranging from 28° API up to 41° API indicated so far from a number of oil samples recovered to surface
• Initial gross STOIIP estimates for the FAN-1 well range from P90, 250 MMbbl, P50, 950 MMbbl to P10, 2,500 MMbbl and are broadly in line with pre-drill STOIIP estimates
There are no plans for immediate well testing. Further evaluation will now be required to calibrate the well with the existing 3D seismic in order to determine future plans and optimal follow up locations to determine the extent of the discovered resource.
Once operations are completed on the FAN-1 well, the rig will move to complete the second well, SNE-1 where the top hole has been drilled pending re-entry. This Shelf Edge Prospect targeting a dual objective in 1,100 m water depth is in the Sangomar Deep block.
The FAN-1 well was drilled using the semi-submersible drilling unit Cajun Express. It is the third well in Cairn's North West Africa program and the first in Senegal.
Cairn has a 40% working interest (WI) in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore and Rusifique) ConocoPhillips has a 35% WI, FAR has a 15% WI and Petrosen, the national oil company of Senegal, holds a 10% WI. The three blocks cover 7,490 sq km.
"The oil discovered in the FAN-1 prospect is an important event for Senegal and the JV. 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. Work is already underway with the JV partners to determine follow up activity which is targeted for 2015 onwards," Simon Thomson, Cairn Energy's CEO, said.
