MELBOURNE, Australia – Drilling is under way on exploration well FAN-1 offshore Senegal, in which FAR Ltd. (ASX: FAR) holds a 15% interest. Cairn Energy PLC holds 40%; ConocoPhillips, 35%; and Petrosen, 10%.
The well aims to test a stacked fan structure with the potential to contain 900 MMbbl. FAN-1 is the first exploration well in a two-well program offshore Senegal, with the wells to be drilled back to back. The first well will be on the North Fan prospect in 1,500 m (4,921 ft) water depth. This well will be followed by a second well targeting a shelf-edge prospect in 1,100 m (3,609 ft) of water.
FAN-1 will be drilled by theCajun Express, which arrived onsite April 12. These will be the first deepwater wells drilled in Senegalese waters and the first offshore wells to be drilled for over 20 years.