FAR has announced that the partners of the SNE field have contracted the Stena DrillMax for a minimum two well programme starting in Q2 2017. The ship is currently in the Canary Islands and ready to be deployed with crew assembled.
The two firm wells, SNE-5 and SNE-6, will target the upper reservoir units and will include drill stem testing and likely an interference test between SNE-3 and SNE-5. The programme aims to firm up the resource base to help scope and refine the field development plan.
It is noted that the new rig has been contracted at a significant discount to the previous rig contract and a two well program could cost as little at USD50 million.
Separately, Woodside (35%) has settled its deal to acquire ConocoPhillips' interest in the SNE field as announced on 31st October and was involved in the approval of this work programme.
Friday, 25 November 2016
Near-term appraisal for FAR
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