02 October 2018, London — Senegal’s deepwater SNE field is on track for first oil in 2022, Fitch Solutions Macro Research has stated in a new report.
“Key 2018 milestones include the submittal of the environmental and social impact assessment and the evaluation report outlining commerciality,” Fitch Solutions Macro Research said in the report, which was sent to Rigzone.
“FEED studies are about to be signed and submission and approval of the development and exploitation plan is expected before the end of 2018 with FID due in H2 2019,” the company added.
Fitch Solutions Macro Research said unlocking Senegal’s first oil field will “contribute greatly” to the expansion of the oil and gas industry in the frontier Mauritania-Senegal-Guinea-Bissau basin.
The SNE field, which the report confirms was the world’s largest oil discovery in 2014, covers an area of around 135 square miles, according to operator Cairn’s website, which states that Cairn has successfully laid the foundation for a multi-phase development plan of the asset.
“Phase 1 would target 240 million barrels via 26 subsea wells using an FPSO with gross production at 100,000 barrels per day of oil,” Fitch Solutions Macro Research highlighted in the report.
“Phase 2 and 3 will aim to recover 130 million barrels and 120 million barrels respectively with an additional 32 to 34 wells. Phase 2 and 3 are anticipated to begin two to four years after Phase 1,” Fitch Solutions Macro Research added.
“There are also sizeable nearby discoveries in the Sangomar Deep Block including the FAN series of wells which are all candidates for tieback to the SNE hub,” the company continued.
*Andreas Exarheas – Rigzone
