American explorer Kosmos Energy has spudded the first well on the Moroccan Foum Assaka licence, the licence shareholder Fastnet Oil & Gas has reported.
The FA-1 well is targeting total depth of 4,000metres in the Eagle prospect, which holds and estimated 360million barrels of oil, and is expected to take up to three months to drill.
“We are delighted that drilling has commenced on schedule on the Eagle Prospect,” said Fastnet managing director, Paul Griffiths.
“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.”
Ireland and Morocco-focused explorer Fastnet owns a 9.4% interest in the licence. Kosmos is the operator with a 29.9% interest, with BP (26.3%), SK Innovation (9.4%) and ONHYM (25%) owning the remaining shares.
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