Cairn Energy eyes 2015 multi-well development of Senegal discoveries

“Cairn enters 2015 in a strong position with further drilling planned in Senegal to evaluate the scale of this world class asset,” said Simon Thomson, Cairn Energy chief executive.

“We are preparing, along with our joint venture partners, for a multi-well exploration and appraisal programme that has the ability to add substantial value for the company and all stakeholders.

Cairn’s optimism comes following positive results from its FAN-1 and SNE-1 wells offshore Senegal. FAN-1 discovered high quality, light oil in multiple stacked deepwater fans, whilst SNE-1 discovered high quality oil in the upper clastic target of the Shelf Edge prospect. Its Senegal evaluation plan is to be submitted in the second half of 2015 by the joint venture, which Cairn operates with 40 per cent working interest.

Based on early evaluation, a programme of three firm and three optional exploration and appraisal wells is envisaged to begin in 2015.

“In the last twelve months, we have actively managed the portfolio and streamlined the business to provide the Group with continued financial flexibility to deliver our active exploration, appraisal and development programmes.”