9th Jan 2020 06:22
(Alliance News) - Australia's Woodside Petroleum Ltd said Thursday the government of Senegal has approved the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore joint venture exploitation plan.
The government has also granted the exploitation authorisation for the Sangomar field development.
The Sangomar development concept is a stand-alone floating production storage and offloading facility with 23 subsea wells and supporting subsea infrastructure. The FPSO is expected to have a production capacity of 100,000 barrels of oil per day, with first oil targeted in early 2023.
The starting of the executive phase of the first phase of the Sangomar field development is now subject to the final execution of the host government agreement with Senegal's government, as well as the approval and awarding of key contracts.
The RSSD joint venture comprises Woodside with a 35% interest, Capricorn Senegal Ltd, a subsidiary of London-listed Cairn Energy PLC at 40%, FAR Ltd with 15% and state oil firm Petrosen with 10%.
Shares in Woodside Petroleum closed 1.5% lower at AUD35.60 on Thursday in Sydney.
By Dayo Laniyan; [email protected]
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