Persistence, partnership and the prize The worlds largest oil discovery for 2014 MSGBC Basin summit and exhibition Dakar, Senegal 23-24 November 2016
About FAR Africa focussed oil company Fifth largest E&P company listed on the ASX Basin opening FAN-1 and SNE-1 oil discoveries offshore Senegal in late 2014 First deepwater wells to be drilled offshore Senegal SNE ranked as worlds…
FAR in Senegal FAR been in Senegal since 2006 OFFSHORE SENEGAL PSC Farmed down to Cairn Energy and ConocoPhillips FAR 16.7% paying interest, 15% beneficial interest Operator: Cairn Energy PLC in 2013 FAN-1 and SNE-1 oil discoveries…
Looking back at 2006 Entire offshore Senegal licenced No oil exploration wells drilled offshore since early 1970s New 3D seismic acquisition underway Chinguetti field producing 42,000 bopd Mauritanian discoveries Banda, Tioff,…
History of FAR in Senegal FAR farmed into Hunt operated PSC in mid 2006 Area under licence 15,000km2 FAR 30% equity interest (Hunt 60%, Petrosen 10%) Unproven, deepwater play concepts with large potential 5
History of FAR in Senegal FAR farmed into Hunt operated PSC in mid 2006 Area under licence 15,000km2 FAR 30% equity interest Unproven, deepwater play concepts with large potential 3D seismic Dec 2006 6
History of FAR in Senegal FAR farmed into Hunt operated PSC in mid 2006 Area under licence 15,000km2 FAR 30% equity interest Unproven, deepwater play concepts with large potential 3D seismic Dec 2006 Focus on the shelf and fan…
History of FAR in Senegal FAR farmed into Hunt operated PSC in mid 2006 Santonian upper slope Area under licence stacked fans exhibiting 15,000km2 high amplitudes FAR 30% equity interest Unproven, deepwater play concepts with…
History of FAR in Senegal End 2008, 50% relinquishment Area under licence 7,500km2 Global financial crisis underway, oil price lows of 35/bbl Hunt Oil exit, reshaping of investment climate for oil and gas FAR 90% working…
History of FAR in Senegal Early 2012, FAR rebranded, acquires new management and technical team New ideas and play concepts developed Lupalupa prospect developed in Albian above the Aptian carbonates Tertiary Late…
History of FAR in Senegal FAR farmed down for two wells in early 2013 to Cairn Energy (Operator) and ConocoPhillips Wells to test the deepwater fan play ad shelf Albian sands and Aptian carbonates FAR retains 15% working interest…
FAN-1 and SNE-1 discoveries SNE-1 oil discovery (Nov 2014) Albian sands Oil gravity 32 degrees API Gross oil column 96m Gross oil-bearing interval of 500m Excellent reservoir FAN-1 oil discovery (Oct 2014) No water-bearing sands…
SNE evaluation SNE Appraisal program commenced one year after discovery Successfully drilled 4 appraisal wells Size of SNE oil pool now surpasses minimum economic field size Drilling confirmed reservoir properties and deliverability…
Status of SNE anchor project Planning is now underway to determine the optimum SNE development scenario Classification Categorisation Source: Society of Petroleum Engineers, Petroleum Resource Management System 15
SNE development and tie back concept Standalone FPSO: with expansion capability for satellite tie-backs FARs phased development concept has plateau production of 140,000 bopd and first oil in 2022* Development expenditure:…
Evaluating Senegals exploration potential FAR has undrilled exploration prospects with 1bn bbls potential (best estimate, gross, unrisked)* New Senegal joint venture 2015 3D seismic shot over 2,400km2 along trend from SNE New FAR…
What next for FAR Persistence and strong partnerships have underpinned FARs success and position in Senegal to date FAR looks forward to building on its position in the MSGBC basin going forward The prize is yet to be fully…
The prize The elephant is yet to reveal is whole self 19
Contact us Level 17, 530 Collins Street Melbourne VIC 3000 Australia T: +61 3 9618 2550 infofar.com.au far.com.au Connect with FAR Limited:
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