FAR Limited has identified more than 1.5 billion barrels of undrilled oil prospectivity in offshore Senegal.
The increase in undrilled prospective resources was identified by analysing new 3D seismic data procured in 2015 along with earlier 3D seismic and well data.
Out of the 1,563 million barrels mapped, 234 million are net for FAR, which is a 15% participant in the Rufisque, Sangomar and Sangomar Deep (RSSD) joint venture.
In addition, the 2C recoverable resource in the SNE discovery is 641 million barrels with 96 million net for FAR.
FAR managing director Cath Norman said: “The prospectivity of FAR’s offshore Senegal acreage is extremely exciting. We have approximately 7,500km² of area under licence in Senegal and given success in our discoveries in the FAN-1 and SNE-1 wells and subsequent successful appraisal of the SNE oilfield, we know we have a prolific working source rock, excellent reservoir development in the area and a good working seal.
“The new 3D seismic data has allowed us to get confidence in mapping traps along the extension of the SNE trend and also new plays and prospects in the acreage.
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“We are currently drilling SNE-5, the fifth well to appraise the SNE oilfield, which will be followed by SNE-6. Because of the relatively low-cost of drilling in deepwater at present, our JV has negotiated additional optional drilling slots for the rig.
“It is likely that one of these exploration targets will be drilled following the current two well campaign, we look forward to keeping shareholders updated as the drilling programme progresses.”
RISC Operations has completed an updated independent resources report for FAR on the exploration potential of its Rufisque, Sangomar and Sangomar Deep offshore blocks.
The latest exploration prospect mapping is developed by reanalysing FAR’s existing quality 3D seismic data and new 2,400km² 3D seismic acquired over the RSSD blocks in late-2015.
It has identified four main Senegal exploration plays based on Shelf and Basin concepts. Most of the identified prospects that form the FAR’s Senegal prospective resources are located close to the SNE oilfield. These can be connected to an SNE production hub through a subsea tie-back system.