Cairn drilled the first deep water wells offshore Senegal in 2014 and made two basin opening discoveries, one of which, the SNE field, was the largest global oil discovery of 2014.
Since then, the region has evolved from a frontier basin to an emerging oil play attracting the attention of the global industry. Cairn farmed-in as operator to its three blocks offshore Senegal in 2013 acquiring a 65% interest in the three blocks with a combined acreage of 7,000km2. Since then, Cairn has operated three drilling programmes and has now successfully laid the foundation for a multi-phase development plan of the SNE field.
The SNE field covers a large area of ~350km2 and has two distinct horizons with a stacked series of S400 upper reservoirs overlying S500 lower reservoirs. It is proposed that the SNE field will be developed in a series of phases with the first phase principally targeting the S500 resource with up to 26 subsea oil production, water injection and gas injection wells tied back to a floating production and storage offloading (FPSO) facility. The FPSO, with proposed ~100,000 bopd production capacity, will be located towards the eastern edge of the SNE field in ~800m water depth.
The subsea facilities will be designed to expand to accommodate future phases of SNE development, as well as providing a hub for developing other oil discoveries on the block. First oil is targeted in 2022, with an expectation of up to ~40,000 bopd production net to Cairn on plateau.
Progress is ongoing in the delivery of key milestones for the field development plan: the Evaluation Report outlining the basis of commerciality of the project was submitted to the Government in July; the tender responses for the FPSO facility and supporting subsea infrastructure have been received and are under evaluation and short-listing ahead of Front End Engineering Design planned for Q4; in parallel with the detailed engineering work, an Environmental and Social Impact assessment study has been submitted and detailed work is underway on the project financing.
Submission and approval of the Development and Exploitation Plan is targeted in the second half of 2018. Transfer of operatorship to Woodside is planned in the fourth quarter of 2018 with Field Investment Decision expected to follow in 2019.
We operate and have a 40% interest in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore, Rufisque Offshore) alongside our Joint Venture partners Woodside 35%, Far Ltd 15% and the Senegal National Oil Company, Petrosen 10%.