FAR Limited has locked in the timetable for drilling the Bambo-1 well offshore The Gambia by executing a contract with Stena Drillmax Ice Limited to commence drilling operations in Q4 of this year. The Bambo-1 well in Block A2 offshore The Gambia, is designed to drill into 3 prospects with a total estimated recoverable, prospective resource of 1,118 mmbbls (arithmetic sum of the Best Estimates, 559 mmbbls net to FAR) and the chance of geological success for the various horizons range from 7% to 37%. These target reservoirs are:
• Soloo – The extension of the hydrocarbon-bearing reservoirs in the adjacent Sangomar Oil Field, offshore Senegal.
• Bambo and Soloo Deep – two additional prospects, not drilled during the Senegal drilling campaigns.
These two prospects carry a lower chance of success but higher volume of hydrocarbons. The technical assessment of the Bambo Prospect has greatly benefited from FAR’s extensive database and experience in the region and learnings from FAR’s involvement in the 11 successful wells in Senegal and the Samo-1 well drilled in 2018. FAR is Operator with a 50% working interest in the A2 and A5 permits with its joint venture partner, PC Gambia Ltd, a subsidiary of Petroliam Nasional Berhad (PETRONAS). If successful, a discovery could result in a standalone development which would be The Gambia’s first oil production.
The drillship Stena IceMAX, capable to drill in water depths up to 7,500 ft was delivered in 2012 from the Samsung’s Geoje shipyard in South Korea.
Headquartered in Melbourne, Australia, FAR Limited is an independent, Africa focussed, Australian Securities Exchange listed, oil and gas exploration and development company with high value assets in West Africa, East Africa and Australia.
(Source: FAR – Image: Stena Drilling)