SNE Oilfield Operator Cairn Energy has announced a timetable for the development of the offshore oilfield that encompasses development concept selection this year and first oil between 2021 and 2023.
Cairn, with a 40% working interest in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore, Rufisque Offshore) counts Australian independent Woodside (35%), Melbourne-based exploration junior Far Ltd (15%) and the Senegal National Oil Company, Petrosen (10%) as its JV partners.
In 2015 the JV, which then included ConocoPhillips prior to the sale of its interest to Woodside, submitted a three-year evaluation work plan to the Senegal government. This plan envisaged an outline timetable for development to be submitted in 2018, following a final investment decision within 12 months and first oil between 2021-2023.
Cairn said 2017 would see ongoing exploration and appraisal drilling with an expected increase in financial flexibility.
The third phase of evaluation this year aims to improve the definition of the project and confirm volumes, connectivity and productivity.
Operations and testing of the first of the appraisal wells, SNE-5, were recently completed ahead of schedule and under budget. The well was subsequently plugged and abandoned and the Stena DrillMAX was redeployed to start operations on the Vega-Regulus (VR-1) well.
The VR-1 will target the Vega- Regulus exploration prospect in the Aptian Carbonates underlying the SNE field, which has potential gross mean consolidated prospective resource of more than 100 mmbbls.
The well will also provide further appraisal on the SNE field targeting potential incremental resources. The results will narrow the range of SNE field volumes and also allow the JV time to fully integrate the results of SNE-5 prior to moving to appraisal well SNE-6 to complete the planned interference test.
The JV has endorsed a standalone FPSO with subsea wells and expansion capability for the foundation development concept and believe that the potential for further exploration success would transform the project into a multi-phase development.
Cairn clarifies timeline for SNE Oilfield development
Posted by | 13/03/2017
