Svenska Seeks Partner In West Africa Drilling
Swedish outfit Svenska is seeking a farm-in partner for a pair of licenses offshore Guinea-Bissau. While West Africa is increasingly an exploration hot-spot in the industry, interest is likely to be constrained by the country's unstable political environment.
Swedish juniour Svenska is seeking a farm-in partner for participation in an ongoing appraisal of the Sinapa discovery made on Block 2 of its acreage in frontier Guinea-Bissau. The Sinapa discovery, made in 2006, is located in 30 meters (m) of water and is thought to have mean oil-in-place resources of 240mn barrels (bbl). However the block has a number of untested prospects, such as the Sardinha prospect, which itself is thought to have unrisked mean resources in place of 219mn bbl.
Svenska is operator of the Sinapa (Block 2) and Esperanca licenses (which includes Blocks 4A and 5A) but is partnered with independent FAR Limited in both permits. The pair plan to spud an exploration well targeting the western flank of the Sinapa East discovery in Q214 at a cost of US$40mn, with a further two planned wells should initial drilling prove successful.