The first oil from Cairn Energy’s Sangomar field off the coast of Senegal is expected to flow in 2023 after the Edinburgh-based driller last night signed its final investment decision documents with the West African country’s government.
Cairn and its joint venture partners – FAR and Woodside, which will operate the field – drilled 11 exploration and appraisal wells off the coast of Senegal between 2014 and 2017, marking the nation’s first deep-water targets. So far, $1 billion has been invested in drilling, with more than $4 billion due to be pumped into the country as part of the field development plan.
The Scottish firm holds a 40% stake in the project, with Woodside owning 35% and FAR 15%. Petrosen, Senegal’s national oil company, holds the remaining 10% stake, with an option to increase its share to 18% when the field is developed.
Chief executive Simon Thomson said: “Cairn’s discoveries offshore Senegal from the country’s first deep-water wells opened up a new basin on the Atlantic margin. Cairn has operated three drilling programmes and successfully laid the foundation for Senegal’s first multi-phase oil and gas development. Senegal is now an attractive oil and gas province, drawing the attention of the global industry.”
