Xodus Wins Two ESIA Contracts in Senegal
Xodus Group sai dit has been awarded two Environmental and Social Impact Assessment (ESIA) contracts for projects in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) blocks in Senegal, West Africa. Xodus’ environmental team undertake the study for drilling activities in the Sangomar and Rufisque blocks for Capricorn Senegal Limited, a wholly owned subsidiary of Cairn Energy PLC, Operator of the RSSD blocks. Xodus will also perform an ESIA for the Phase 1 Development, comprising a FPSO, over the SNE deepwater oil field located in the Sangomar Deep Offshore block for Woodside Energy (Senegal) B.V.…
ConocoPhillips Hits Snag in Senegal Deepwater Stake Sale to Woodside
ConocoPhillips' plan to sell its stake in an oil find off Senegal to Woodside Petroleum hit a speed-bump on Tuesday as a junior partner attempted to buy time to pre-empt the deal at the same time it announced an increase in the size of the field. ConocoPhillips agreed in July to sell its 35 percent stake in the deepwater SNE field offshore Senegal to Woodside for up to $430 million. At the time, the SNE field was estimated to hold 561 million barrels of oil. On Tuesday, Australian explorer FAR Ltd, ConocoPhillips' partner in the field, said Conoco failed to comply with the terms of their joint operating agreement as it relates to the proposed sale of its stake…
Cairn Gears up For Fourth Well Offshore Senegal
Cairn has given an update on further exploration and appraisal success in its latest well in the ongoing evaluation programme offshore Senegal. The BEL-1 well was targeting the Bellatrix exploration prospect and appraising the northern extent of the SNE field discovered in 2014. Based on the positive campaign results to date, the Joint Venture (JV) has agreed a fourth well location, SNE-4, which will commence operations shortly. The BEL-1 well targeted a shallower ‘buried hill” exploration play which is one of multiple exploration play types that have been identified across the block.
ONGC to Invest $5 bln to Develop India's Eastern Gas Asset
India's Oil and Natural Gas Corporation said it will unveil an investment of around $5 billion by the end of March to develop a major gas asset in the east, with a view to tapping higher gas prices. The asset, which the state-owned company acquired in 2005 under a swap agreement with UK's Cairn Energy Plc, can produce up to 17 million metric standard cubic metres per day (mmscmd) of natural gas and 75,000 barrels of oil per day by 2020. The level of output will make it ONGC's second biggest hydrocarbon asset in India, D.K. Sarraf, chairman and managing director of the country's biggest explorer, told reporters on Saturday.
EnQuest, Cairn Take Additional Interest in Kraken
EnQuest PLC has acquired an additional 10.5 percent interest in the Kraken development for nominal consideration. The acquisition from First Oil PLC brings EnQuest's total interest to 70.5 percent. EnQuest and Cairn Energy PLC, the other current participant in the Kraken development, are both taking up First Oil's interests pro-rata, in proportion to their holdings prior to the transaction. EnQuest has also waived its right to reclaim approximately $7 million of cash calls paid on behalf of First Oil in January and February 2016. EnQuest acquires the reserves and resources associated with the additional interest.
Cairn Pre-close Update
Cairn intends to announce its preliminary results for the year to 31 December 2015 on Tuesday 15 March 2016. In advance of these results, Cairn is providing information on recent operations and guidance in respect of the Group’s trading performance in 2015. This information is unaudited and is subject to further review. Simon Thomson, Chief Executive, Cairn Energy PLC said, “Cairn is delighted with the positive flow tests on the SNE-2 appraisal well confirming the commercial deliverability of the SNE discovery. Further appraisal activity this year will test the overall scale and extent of the resource base in Senegal…
Cairn Firms up Senegal Drill Efforts
Cairn and its joint venture partners have submitted a three year evaluation work plan to the Government of Senegal including an initial programme of three firm and three optional exploration and appraisal wells, with drilling starting in Q4 2015 in Cairn’s new basin play offshore Senegal focused on the acreage around the SNE-1 discovery well. Cairn estimates that the existing two discoveries and the currently identified prospects and leads have an estimated mean risked resource base of more than a billion barrels. The Ocean Rig Athena, a 7th generation dual activity drillship has been selected for the drilling programme.
Kosmos Energy's Update
Kosmos Energy announced today that the CB-1 exploration well located in the Cap Boujdour permit area offshore Western Sahara encountered hydrocarbons. The well penetrated approximately 14 meters of net gas and condensate pay in clastic reservoirs over a gross hydrocarbon bearing interval of approximately 500 meters. The discovery is non-commercial, and the well will be plugged and abandoned. Andrew G. Inglis, chairman and chief executive officer, said: “The CB-1 exploration well was designed to open the frontier Laâyoune Basin by testing the Al Khayr Prospect.
Cairn's JV Discovers Oil Offshore Senegal
Cairn together with its joint venture partners have announced that the FAN-1 exploration well, offshore Senegal, has discovered oil. The well, located in 1,427 metres (m) water depth and approximately 100 kilometres offshore in the Sangomar Deep block, has reached a Target Depth (TD) of 4,927 m and was targeting multiple stacked deepwater fans. As stated prior to the commencement of operations there are no plans for immediate well testing. Further evaluation will now be required to calibrate the well with the existing 3D seismic in order to determine future plans and optimal follow up locations to determine the extent of the discovered resource.
Catcher Update by Cairn
Cairn is pleased to announce that it has entered into a farm out agreement for the sale of a 10% interest in the Catcher development and adjacent acreage in the UK North Sea. With effect from 1 January 2014 Dyas UK Limited (Dyas) shall acquire 10% in each of the following UK Continental Shelf licences P1430, P2040, P2070, P2077 and P2086 by funding Cairn’s exploration and development costs in respect of the licences up to a cap of $182million (m). Following this transaction Cairn will retain a 20% interest in the Catcher licence and a reduced interest in each of the remaining licences as detailed below.
'Cajun Express' commences drilling offshore Senegal
Drilling has begun on the offshore exploration well, FAN-1, offshore Senegal in which FAR Ltd holds a 15% interest (Cairn Energy PLC (“Cairn”) 40%, ConocoPhillips 35%, Petrosen 10%). net to FAR Ltd. The well will be drilled using the fifth generation rig, the ‘Cajun Express’, which arrived on site Saturday 12th April. FAN-1 is the first exploration well in a two well programme, offshore Senegal with the wells to be drilled back to back. The first well will be located on the North Fan prospect in 1,500m water depth. This well will be immediately followed by a second exploration well targeting a shelf edge prospect in 1,100m of water.
