Saudi Arabia - joining the dots

A series of blog entries exploring Saudi Arabia's role in the oil markets with a brief look at the history of the royal family and politics that dictate and influence the Kingdom's oil policy

AIM - Assets In Market

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Iran negotiations - is the end nigh?

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Yemen: The Islamic Chessboard?

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Acquisition Criteria

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Valuation Series

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Showing posts with label Petrosen. Show all posts
Showing posts with label Petrosen. Show all posts

Wednesday 8 October 2014

Sangomar Deep - Senegal's first offshore discovery




  • On 7 October 2014, Cairn Energy and its partners announced that a significant oil discovery had been made in the FAN-1 exploration well in the Sangomar Deep block, Senegal's first offshore discovery
    • 29m net pay
    • Gross oil interval of >500m
    • No OWC encountered
    • Distinct oil types recovered 28-41 API
  • This was followed by a second discovery in the SNE-1 well, announced on 10 November 2014
    • 36m net pay
    • Gross oil interval of 95m with gas cap
    • Oil of 32 API, oil and water recovered to surface
    • 1C: 150mmbbl, 2C:330mmbbl, 3C: 670mmbbl
  • Block is operated by Cairn (40%) - other partners are COP (35%), Far (15%), Petrosen (10%)
  • SNE-1 is potentially commercial on a standalone basis; FAN-1 economics more marginal - may be tied back to SNE-1 or warrant a stand-alone development, will need further delineation