Partners Get More Time Offshore Senegal

Sunday, November 29, 2015

FAR Ltd. revealed on November 27 that it, as wells as its JV partners offshore Senegal, have received a presidential decree to extend their current PSC by three years. The extension of the PSC starts February 6. The extension gives the JV additional time to appraise the SNE and FAN oil discoveries made offshore the African country last year.

The first phase of the JV’s planned appraisal and exploration program has already begun and consists of three new wells, the SNE-2, SNE-3, and BEL-1, are scheduled for completion by mid-2016.

FAR’s Senegal JV partners comprise Cairn Energy, ConocoPhillips and Petrosen.

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