I thought I would take this opportunity to compile some recent information provided by Far and Cairn re Fan, SNE Nth and Fan Sth. I have done this as some people refer to these wells as dusters or that FAN is not commercial whilst others have plenty of money tied up in FAR but don't seem to use all of the resources (pardon the pun) available to them.
It pretty much shows me that the JV is actively looking at expanding the reserves/resources for the SNE development which will extend the life of the SNE field and that FAN might yet be a commercial standalone, particularly given the reduced development and operating costs shown by the SNE field so far.
I am not an oiler and would love some comments on FAN, FAN Sth and SNE Nth from those with more O&G experience than me. I am in FAR due to SNE but am seeing these other plays as a nice icing.
FAR Good Oil Presentation Video:
7:00 mark
FAN - STOIIP @ P50 950mmbbls, @ P90 250mmbbls (
All OPERATORS numbers)
6:50 mark
slight paraphrasing when referring to FAN-1- 'High Quality Oil' & 'We did not find water in the well so we really don't know how big this feature could be'
14:10 mark
Refering to FAN Sth (slight paraphrasing) 'will be used to plan the appraisal of the FAN well which has been put on the backburner while we progress the SNE discovery
but we will be working on that shortly'
Cairn Half Yearly - Transcript:
"The results from the FAN and FAN SOUTH discoveries in the basinal area are being
integrated together and we’re again looking at appraisal options there and potential for
commerciality."
"The plateau rate, obviously we would anticipate further investment and we'd continue that
plateau rate, and obviously depending on performance. The FPSOs that have been hooked
up to fields have outperformed inevitably go through a sort of debottlenecking process to
squeeze out additional barrels through the process nameplate capacity, and indeed to some
degree that's what we're looking at on Catcher as we speak. Then we also have to consider
future tie backs and whether we would make a pre-investment or a post-investment related to
them in terms of FAN and SNE North that Eric talked about."
"The exploitation plan will cover not just SNE but the area and discoveries that we want to
retain. So there probably will indeed be future phases associated with SNE North and FAN,
for example, where they're tied back to the main production centre."
"And finally the last well in the programme was SNE North which had the most significant
results being a separate accumulation that found oil below the oil water contact in SNE field
and that will set us up for opportunities in the future."
And my personal favourite given the blocks very nearby are on market currently -
"The FAN SOUTH well we returned to the basinal play which was discovered by the FAN-1
well, again we found oil but the net pay and net reservoir were not quite up to our expectations."
Were they expecting 500mmbbls and only found 499mmbbls which technically means the results were not quite up to their expectations?? We will no doubt find out once the Gambia blocks on trend are awarded to the lucky party.
(20min delay)