4th Jan 2016 07:26
LONDON (Alliance News) - Cairn Energy PLC on Monday said it received positive results from tests carried out on the SNE-2 appraisal well offshore Senegal as the company moves onto its third and final well on the field before updating its resource estimates.
The FTSE 250-listed oil company said drill-stem testing was carried out on the SNE-2 well over a 12.0 metre interval which produced a stabilised but constrained flow rate of 8,000 barrels of oil per day of high quality pay. The company said the result confirmed the "high deliverability" of the main reservoir in the well.
Further testing was carried out over a relatively low quality 15.0 metre interval which produced a maximum flow rate of 1,000 barrels of oil per day, proving the lower quality reservoirs can still produce at a viable rate and contribute to resource volumes, said the company.
Importantly, testwork on the well has also confirmed the correlation between the reservoir units between the SNE-2 well and the SNE-1 well, and the data from SNE-2 also suggests the oil quality is the same as the SNE-1 well.
"We are delighted with the results of the SNE-2 well and in particular the well tests, which are significant in demonstrating the ability of the reservoirs to flow at commercially viable rates. The results help to confirm the overall scale and extent of the resource base in Senegal and further appraisal activity is expected to lead to future revision of the estimates. We now eagerly look forward to the results of the SNE-3 well," said Simon Thomson, chief executive of the company.
Cairn has a 40% working interest in the SNE field, which covers three offshore blocks, alongside partners ConocoPhillips, FAR Ltd, and the national oil company of Senegal, PETROSEN.
By Joshua Warner; [email protected]; @JoshAlliance
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