Continental Focus, International Reach

Capital Costs on SNE Development Drop

Monday, June 4, 2018

FAR Ltd cut its estimated capital cost for the development of the SNE oil project off Senegal by 33%. Capital costs have been dropped to $2 billion. FAR chairman Nic Limb said the Senegal discoveries, in which FAR has a 15% stake, were now moving toward a development decision.

“We are fortunate that development costs are at multi year lows which is helpful,” Limb told the company’s annual meeting.

“I am encouraged by the number of options appearing as we work on the financing task and I am confident we will achieve a sound outcome,” the chairman added.


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