Woodside and its partners, Cairn and FAR, have signed a joint Final Investment Decision (FID) statement, in agreement with Petrosen and the Government of Senegal for the Sangomar field development.
The FID was signed at an official ceremony on Tuesday night with the Minister of Petroleum and Energies, Monsieur Mouhamadou Cisse, Cairn informed.
The FID on Phase 1 of the Sangomar field development offshore Senegal follows the receipt of the 25-year Exploitation Authorization from the Government of Senegal.
Phase 1 of the development will target estimated 2P recoverable oil reserves of 231 mmbbls (gross). Over the life of the field, total recoverable oil resources are estimated to be approximately 500 mmbbls with the development also planning gas export to shore.
Woodside, as the operator of the joint venture, has completed the purchase contract for the Floating Production Storage and Offloading (FPSO) facility and issued full notices to proceed for the drilling and subsea construction and installation contracts.
Simon Thomson chief executive of Cairn 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.”