Fastnet announces drilling of Morocco well

Kosmos Energy estimates Foum Assaka well contains 360 million barrels of oil equivalent

Fastnet, the Irish listed oil and gas company, this morning confirmed that Kosmos Energy has started drilling the FA-1 Foum Assaka well.

Fastnet, the Irish listed oil and gas company, this morning confirmed that Kosmos Energy has started drilling the FA-1 Foum Assaka well.

Mon, Mar 17, 2014, 12:15

Fastnet, the Irish listed oil and gas company, this morning confirmed that Kosmos Energy has started drilling the FA-1 Foum Assaka well, offshore Morocco.

Kosmos Energy Deepwater Morocco said the well spudded on March 14. It estimates the well contains 360 million barrels of oil equivalent probable resources in its primary deepwater Lower Cretaceous reservoir objective.

Fastnet, which has a 9.75 per cent interest in the Foum Assaka licence, said the planned target depth is 4,000 metres in water depth of approximately 600 metres. The well is expected to take up to three months to reach target depth.

“We are delighted that drilling has commenced on schedule on the Eagle Prospect. The results from the FA-1 well will allow us to further evaluate and potentially de-risk the varied and near-term drilling targets in the Foum Assaka Licence where we and our partners see significant potential upside,” Fastnet managing director Paul Griffiths said.