The worlds largest oil discovery since 2014 14th African Independents Forum London 25 May 2016
FAR Snapshot Two major basin opening oil discoveries in Senegal in 2014 SNE field largest global oil find since its discovery in 2014 SNE field appraisal drilling commenced Nov 2015 6/6 successful wells drilled offshore Senegal to…
Senegal FAR celebrating 10 years in Senegal in OFFSHORE SENEGAL PSC 2016 FAR 16.7% paying interest, 15% beneficial interest Operator: Cairn Energy PLC Strong in-country relationships Peaceful democracy Solid growth: 4.7% GDP in…
Senegal geological setting W FAN-1 SNE-2 SNE-1 SNE-3 BEL-1 E Buried Hills play Shelf Edge play Fan play 0 10 km 4
FAN-1 Discovery W FAN-1 SNE-2 SNE-1 SNE-3 BEL-1 E FAN-1 well drilled first Results announced Oct 2014 Oil gravity 28-41 degrees API Gross oil bearing interval 500m Operator gross oil (STOIIP) in place P90: 250 mmbbls P50: 950…
SNE-1 Discovery W FAN-1 SNE-2 SNE-1 SNE-3 BEL-1 E SNE Field Result announced Nov 2014 Largest oil discovery for 2014 Has not been surpassed to date Approximately 350 km2 footprint 0 10 km 6
SNE appraisal well locations Objective of wells: Size of oil pool Test reservoir properties and deliverability from logging, coring and testing Measure field connectivity BEL-1 SNE-2 SNE-1 SNE-3 SNE-4 N S Drilling Oil Traps…
Deliverability of oil from SNE Main reservoirs flowed at commercially viable rates in the SNE-2 and SNE-3 wells 200mmbbls 350mmbbls 250mmbbls 400mmbbls 300mmbbls Flow test SNE-2 600mmbbls 9
Understanding connectivity 10
Appraisal progress to date Objective of wells are to establish: Size of oil pool Reservoir properties and deliverability from logging, coring and testing Reservoir connectivity Drilling program progressed safely, efficiently…
Senegal prospects and leads JV PSC area 7,500 km2 3D coverage 4,500km2 Djiferre block area 4,000km2 12
Capturing more shelf edge exposure New Senegal joint venture 2015 3D seismic shot along shelf trend New FAR Djiffere 3D seismic provides FAR option to earn a 75% W.I. Final products due Q3 *Reference FAR ASX release…
Senegal preliminary economics Excellent PSC terms and an improving cost environment Threshold economic field size approximately 200mmbbls* NPV/bbl of US10 at US50/bbl oil price and reduced CAPEX* Flow test SNE-3 FID…
Whats next in Senegal Upgrade to FARs contingent resources mid year (BEL-1, SNE-4 and core data) New JV and Djiffere seismic data products FAR statement on SNE commerciality Decision to progress Djiffere option Preparing for…
Social responsibility FAR and its partners are supporting activities that deliver positive, lasting social and economic benefits to Senegal: English language training for students and departments involved in the energy sector Provision…
2016 revealing the prize 2013: Year of farmout 2014: Year of discovery 2015/2016: Evaluating the SNE Field 100% success rate to date offshore Senegal Undrilled exploration prospects with 1bn bbls potential Expanding footprint through…
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