An independent audit has uncovered at least 1 billion barrels of oil offshore Gambia.
According to West African explorer FAR Ltd., an audit of geotechnical data show the Samo and Bambo prospects off the coast of Gambia hold combined best estimate prospective reserves of 1.1 billion barrels. Significant hydrocarbon resource potential has been located in its two blocks offshore The Gambia: Blocks A2 and A5. The Blocks A2 and A5 permit area, covering 2,682km2 , are adjacent to and on trend with FAR’s world class SNE oil field discovery and have significant exploration potential.
This uncover holds large potential, with a predicted 50% success rate. It is rare to have an exploration prospect with such a high CoS but this reflects the adjacent discovery at SNE and the confidence FAR Limited has developed in exploring in the play fairway which is yet to experience a dry well. According to FAR Managing Director Cath Norman , “Given the eight successful wells drilled on the shelf to date in Senegal and into the key reservoirs in the Samo prospect, the geological chance of success for drilling this prospect is high for a frontier exploration well.”
She continues by saying “Success in this well at the scale that RISC has supported would be truly transformational for the people of The Gambia and FAR is proud to again be in the privileged position of delivering the country’s first, modern exploration well as we were in 2014 in Senegal. FAR wishes to acknowledge the cooperation and support of the Gambia Ministry of Petroleum and Energy and the Gambia National Petroleum Company (GNPC) as we continue with our drilling preparations. We trust this will be the beginning of a long and fruitful partnership.”
Geotechnical studies are progressing including reprocessing of the Block A2 and A5 3D seismic data by Petroleum Geo-Services (PGS) with the aim of improving the data quality for optimising the location and design of the anticipated Samo exploration well.
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