Conoco Farms into Cairn's Senegal Blocks

UK independent Cairn Energy reported Thursday that it has farmed out to ConocoPhillips a 25-percent stake in three adjacent blocks offshore Senegal, West Africa.

The blocks are the Rufisque, Sangomar and Sangomar Deep, where a 788-square mile 3D seismic survey has been used to identify prospects.

Cairn said that an exploration campaign is targeting a block-wide potential resource of 1.5 billion barrels. Drilling is expected to begin in the first half of next year, with a two-well program that will use the Cajun Express (DW semisub) rig.

Cairn retains operatorship and a 40-percent interest in the blocks. Petrosen, the Senegal National Oil Company, retains a 10-percent interest.

Cairn Energy Chief Executive Simon Thomson commented in a company statement:

"Cairn is delighted to be joined in its frontier exploration program in Senegal by ConocoPhillips. The strategic farm-out means Cairn is able to intensify its plans to explore its acreage offshore Senegal, where the gross prospective block wide resource potential is estimated to be in excess of 1.5 billion barrels.

"The transaction is in line with Cairn's strategy of balancing material frontier exploration alongside sustainable levels of financial commitment."

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Dayang Increases Stake in Malaysia's P... (Jul 28)
 -  Trapoil Merges with Jersey Oil and Gas (Jul 28)
 -  Vermilion Energy Enters Farm-in Agreem... (Jul 28)
 -  Dolphin Begins East Campeche Seismic S... (Jul 28)
 -  Pura Vida: MZ-1 Well Secondary Objecti... (Jul 28)


Most Popular Articles

From the Career Center
Jobs that may interest you
Account Manager - Vendor Surveillance Sales
Expertise: Business Development|Sales & Marketing|Technical Sales
Location: Houston, TX
 
Business Development Manager Cranes
Expertise: Business Development
Location: Texas, TX
 
Global Account Manager
Expertise: Business Development|Sales & Marketing
Location: Houston, IA
 
search for more jobs

Brent Crude Oil : $53.47/BBL 2.10%
Light Crude Oil : $47.39/BBL 1.55%
Natural Gas : $2.79/MMBtu 0.72%
Updated in last 24 hours