Under the agreement, the incoming third party will acquire a 70% operating interest in the African Petroleum’s SOSP production sharing contract (PSC) in Senegal and the A1 and A4 licenses in The Gambia.
CNOOC teams up with FAR to search for oil and gas within Senegal and Gambia over the next two years. The two parties signed an AMI that regulates their areas of collaboration.
Cairn Energy, in partnership with the Australian independent FAR Ltd, announced late March the discovery of oil at the VR-1 well located on offshore Senegal.
Australia's FAR Ltd, a partner in Senegal's SNE offshore field, announced early March that the project could start the production process before 2021, earlier than expected and at a higher rate than flagged before.
Cairn Energy is gearing up to start the third phase of its drilling program offshore Senegal in late January, aiming to further evaluate the SNE discovery.
UK's Cairn Energy and Senegal joint venture partners have decided to drill two appraisal wells on the SNE oil field off Senegal in early 2017 using the Stena Drilling’s 2007-built drillship, Stena DrillMAX.