FAR: FAN South-1 oil discovery made Martin Kovacs, 11 Jul 2017

FAR Limited has advised that oil has been discovered at the FAN South-1 exploration well, offshore Senegal, with oil samples obtained from the lower Cretaceous reservoirs.

FAR advised that wireline logging has been completed, with further work “being undertaken to integrate this discovery with the results of the FAN-1 well to establish the potential commerciality of these deep-water, basinal resources”.

The tenth well to be drilled offshore Senegal and the fourth in the current drilling campaign, FAN South-1 reached a total depth of 5,343 m, FAR stated, and is currently being plugged and abandoned as planned before mobilising to the SNE North-1 well location.

“The discovery of oil in FAN South-1 yet again verifies the quality of the oil and gas-generating system in our offshore Senegal permits and is another significant result,” FAR Managing Director Cath Norman commented.

“The basinal fan play offshore Senegal is clearly a very large, but technically complex system, which will require further evaluation to understand the commerciality of this deep-water basin area.

“We are very pleased to be moving to drill SNE North-1 into the Sirius prospect on the Senegalese shelf that can add significant barrels for future development if successful. We look forward to bringing the results to our shareholders in the coming weeks.”

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