FAR Ltd., Perth, will participate in the drilling of two deepwater exploration wells offshore Senegal next month.
The wells, to be operated by Cairn Energy PLC, Edinburgh, will be the first deepwater wells drilled off Senegal and only the second and third deepwater wells along the central Atlantic margin of West Africa.
The first Senegal well, Fan-1, will be drilled on the north Fan prospect in 1,500 m of water. It will be immediately followed by a second well to the southeast targeting a Shelf Edge prospect in 1,100 m of water.
FAR says the two prospects combined have potential to hold 1.5 billion bbl of oil.
FAR has retained a 15% interest after farming out to Cairn (40%) and ConocoPhillips (35%) to secure a carry of expenditure through the two-well program. Senegal national oil company Petrosen has the remaining 10% also as a carried interest in the drilling program.