FAR contracts Dakar base to support Samo well offshore The Gambia

FAR is continuing preparations for the first exploratory well on block A2 offshore The Gambia.

Blocks A2 and A5 offshore The Gambia
Blocks A2 and A5 offshore The Gambia

Offshore staff

MELBOURNE, Australia – Australian independent FAR is continuing preparations for the first exploratory well on block A2 offshore The Gambia.

The company has executed a sublease with the Senegal RSSD joint venture to use the Dakar shorebase facilities to the north for theSamo-1 well, which the drillship Stena DrillMAX is set to spud during 4Q.

FAR and its partners in RSSD used these facilities for 11 well drilling campaigns offshore Senegal.

Despite delays, afarm-out agreement with Petronas concerning blocks A2 and A5 should be completed within the next few weeks when Petronas will pay FAR around $14.4 million in settlement costs to gain a 40% interest.

The Samo-1 well will be the first exploration well drilled offshore The Gambia since 1979. The Samo prospect is around 10 km (6.2 mi) south of the discovery well for the deepwater SNE oil field offshore Senegal and on the same shelf edge trend.

FAR points out the RSSD joint venture has drilled nine successful oil wells on this trend, and it estimates that Samo could hold up to 825 MMbbl.

In the event of a success, Petronas has the right to operate any subsequent development.

Offshore Guinea-Bissau, operator Svenska and partner FAR plan another farm-out to allow drilling of the giant Atum prospect before end-2021.

Elsewhere, FAR is planning completion with CGG of a 3D seismic survey over WA-458-P off Western Australia by end-1Q 2019.

07/31/2018

More in Regional Reports