ConocoPhillips Announces Second Oil Discovery Offshore Senegal

ConocoPhillips COP today confirmed that oil was discovered in the SNE-1 well, the second of ConocoPhillips' two-well program, located approximately 60 miles offshore Senegal in the Sangomar Deep block. After further evaluation of this zone, the SNE-1 well will continue drilling to a planned total depth of approximately 10,000 feet. “The initial positive results at SNE-1 follow our recent announcement that oil was discovered in the FAN-1 well offshore Senegal,” said Larry Archibald, senior vice president, Exploration. “We are encouraged by the presence of a working petroleum system in this frontier basin and are now evaluating further work to enhance our understanding of the two plays.” Cairn Energy PLC is the operator and holds a 40-percent working interest in the SNE-1 well. ConocoPhillips holds a 35-percent working interest in the well, while FAR Limited and Petrosen hold 15- and 10-percent interest, respectively. ConocoPhillips has the option to become operator of the project if it advances to development.