Exploration Drilling Commences Offshore Senegal
Friday 26 May 2017
FAR Limited (ASX:FAR) and the Senegal Joint Venture has commenced drilling the FAN South-1 exploration well into the South Fan prospect.
The well is the first pure exploration well to be drilled offshore Senegal since the discovery wells of FAN-1 and SNE-1 in 2014.
FAN South-1 is the first well drilled into the deepwater basin offshore Senegal since the initial FAN-1 discovery well in 2014. The well is being drilled into the South Fan prospect that FAR assesses to contain 134 mmbbls* of recoverable oil on a best estimate basis, with an 18% chance of success (refer ASX release 7 February 2017). The well will also assess the potential for improved reservoir presence and quality in the basin that will aid in the evaluation of the FAN-1 well results. Figure 1 below shows the location of the FAN South-1 well.
The South Fan prospect consists of several stacked reservoir targets. The well will be drilled to an estimated Total Depth (“TD”) of 5,317 metres in a water depth of 2,139 metres. The firm well plan for FAN South-1 includes a wireline logging program prior to the well being plugged and abandoned.
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