A Review of the Nigerian Energy Industry

Cairn spuds in Senegal

Ugandan fisherman near Lake Albert oil rig17 April 2014, News Wires – Scotland’s Cairn Energy has started drilling the Fan-1 exploration well offshore Senegal, targeting a 900 million barrel of oil potential resource.

Cairn spudded the well targeting the stacked fan structure using the fifth generation rig Cajun Express.

The well is the first in a two-well programme in Senegalese waters, and the first offshore well to be drilled in the area in more than 20 years.

The well will be followed immediately by a second well.

Joint venture partner Far secured funding for the two exploration wells based on its farm-out deal with Cairn’s wholly-owned subsidiary Capricorn Senegal.

Far managing director Cath Norman said the company had high hopes for the two wells.

“Success in either of these wells opens the door to a large play fairway of follow on drill targets which are very significant for Far,” she said.

Cairn Energy holds a 40% interest and operatorship with Far holds a 15% interest. The rest of the interest lies with ConocoPhillips (35%) and Petrosen (10%).

Fan-1 is an exploration well and even if successful, will not be completed as a commercial production well.

If the well is successful, the joint venture may conduct more drilling and evaluation activities.


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