Cairn Energy PLC, along with its joint venture partners, Woodside Petroleum Ltd. (operator) and FAR Ltd., has signed a joint Final Investment Decision (FID) statement, in agreement with Petrosen and the Government of Senegal, for Sangomar field development. First oil is expected in early 2023.
FID on Phase 1 development offshore Senegal follows the receipt of the 25-year Exploitation Authorization from the Government of Senegal (OGJ Online, Jan. 9, 2020; Jan. 10, 2020).
Phase 1 will target estimated 2P recoverable oil reserves of 231 MMbbl (gross). Over the life of the field, total recoverable oil resources are estimated to be 500 MMbbl with the development also planning gas export to shore.
The current shareholding is Cairn Energy PLC with 40%, Woodside 35% and operatorship of the development phase, FAR Ltd. 15%, and Senegal national company Petrosen 10%.