Drilling has started on the appraisal program to evaluate the world class SNE oil discovery offshore Senegal. The three wells SNE-2, SNE-3 and BEL-1 will be drilled back to back in a program that is estimated to be completed in mid-2016. Both SNE-2 and SNE-3 appraisal wells will be logged, cored and flow tested.
The aim of the appraisal program is to progress towards proving a minimum economic field size for the SNE discovery, which FAR estimates to be approximately 200 million barrels of oil. In addition the BEL-1 well will also evaluate the Bellatrix prospect which lies on the untested Buried Hills exploration play.
For reasons of operational efficiency, the top hole of SNE-3 will be drilled first by the Ocean Rig Athena. The rig will be then be mobilised to the SNE-2 well location where SNE-2 will then be drilled to total depth (TD).
Operations on the top hole of the SNE-3 well and drilling to total depth (TD) on the SNE-2 well are expected to last approximately 6 weeks after which the coring, logging and flow testing program will commence on SNE-2. On completion of the operations on SNE-2, SNE-3 will be re-entered and drilling and evaluation will be carried out before commencement of the BEL-1 well.
“This drilling program has the potential to create considerable new shareholder value. We have high hopes for these three wells which have the potential to prove the SNE field size exceeds the minimum economic threshold which we estimate at 200 million barrels.
“We will also test the very high potential Buried Hills play by drilling the Bellatrix prospect and as such this well will be very exciting.
“FAR will release drilling information regularly during the program but will only provide material information when we have sufficient confidence to minimise misunderstanding and ensure that the market will be properly informed.”
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