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FAR Ltd commences drilling Samo-1 oil well offshore West Africa

Drilling is targeting an estimated Prospective Resource of 825 million barrels of oil.
Stena drillmax boat
Drilling by the Stena Drillmax will be followed by wireline logging

FAR Ltd (ASX:FAR) has commenced drilling on the Samo-1 exploration well in the 40% owned block A2 located offshore The Gambia in West Africa.

The Samo-1 well will be drilled in 1,000 metres of water depth to a planned depth of around 3,100 metres.

The Samo Prospect has two key reservoir intervals and is assessed to contain a combined Prospective Resource of 825 million barrels of oil.

READ: FAR Ltd outlines value drivers for next 12 months

FAR’s managing director Cath Norman said: “This is a very exciting time for FAR as we embark on our first exploration drilling program since the 11 successful wells drilled in neighbouring Senegal.

“The Samo-1 well is the first well to be drilled offshore The Gambia for 40 years and because of this, it is attracting wide international attention.

Partnered with PETRONAS and Gambia government

“I am grateful for the hard work of the operational team in preparing for the Samo-1 well and the strong co-operation of our co-venture partner PETRONAS and the Government of the Gambia.

We join our stakeholders in looking forward to safe and efficient operations.

“As is standard in offshore exploration drilling, FAR will be running a tight hole operation - we look forward to making updates as we reach important milestones.”

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FAR Ltd Timeline

Newswire
December 14 2018

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