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Development & Exploitation Plan Submitted for Sangomar Field

Source: www.gulfoilandgas.com 12/3/2019, Location: Africa

FAR Limited, as part of the Rufisque Sangomar and Sangomar Deep (RSSD) joint venture advises that the final Sangomar Field Development and Exploitation Plan was submitted to the Government of Senegal, in Dakar on 2 December 2019.

The Development and Exploitation Plan outlines the full field multi-phase development of oil and gas and details how the Sangomar Field (formerly SNE Field) will be developed in a series of phases with plans for 645 mmboe (485 mmbbl oil and 160mmboe gas) to be developed.

Developing this world class oil field in Senegal, the largest global hydrocarbon discovery in 2014, has the potential to transform FAR from explorer to material producer and become one of the largest ASX listed oil producers in early 2023.

Petrosen, the National oil company of Senegal, Director General Mamadou Faye said: “The Exploitation Plan outlines how the field will be developed to the benefit of the people of Senegal and the joint venture, and we are excited about being in a position to take a final investment decision.”

FAR managing director Cath Norman, said, “Submission of the final version of the Development and Exploitation Plan for the Sangomar Field Development is a huge milestone for FAR and the joint venture.

FAR has been in the RSSD project offshore Senegal since 2006 and is thrilled to be developing one of the largest offshore oil discoveries of the last ten years. The Sangomar Field Development is anticipated to result in considerable cash generated for FAR and its shareholders from first oil in 2023, a time when FAR would also be one of the largest oil producers listed on the ASX. This is an exciting time for the joint venture, the people of Senegal and the FAR shareholders.”

For more information about related Opportunities and Key Players visit West Africa Projects

Development News in Senegal >>

Senegal >>  1/9/2020 - The Government of Senegal has approved the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture Exploitation Plan and ...
Senegal >>  12/24/2019 - FAR Limited, as a partner in the Sangomar Field Development offshore Senegal, provides the following end of year update for shareholders. ...

Russia >>  12/23/2019 - Equinor and Rosneft have taken an investment decision on the first stage of the North Komsomolskoye full field development. ...
Norway >>  12/20/2019 - On Tuesday 17 December, Var Energi submitted an amended Plan for Development and Operation (PDO) for the Balder field and the associated Ringhorne dep...

United Kingdom >>  12/20/2019 - Angus Energy plc is pleased to update its presentation on the above Field following the submission of our Field Development Plan to the Oil & Gas Auth...
Russia >>  1/29/2019 - Gazprom Neft has won a licensing round for subsoil prospecting, exploration and production rights to the Severo-Stakhanovsky, Novoromanovsky and Puhut...

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