SNE 2C-563 mmbbls

From Cairn's HY

Senegal

• Joint Venture (JV) planning underway for phased development of SNE field, Cairn targeting production rates of 75,000-125,000 barrels of oil per day (bopd) with first oil planned 2021-2023
• Updated overall SNE 2C oil resource base of ~563 million barrels of oil (mmbbls)*, with additional recoverable gas resources of more than 1 trillion cubic feet (TcF)
• Cairn estimates up to 25 wells planned in initial development phase, targeting ~240 mmbbls principally in S500 lower reservoir
• Subsequent development phases to target resource base in S400 upper reservoir
• Engagement with major FPSO and subsea contractors commenced prior to formal tendering process later this year
• Targeting Evaluation Report and Exploitation Plan submission to Government of Senegal in 2018 for Final Investment Decision (FID) before end of 2018
• Evaluation of potential further exploration opportunities underway, including in the shallower water Rufisque block