Senegal renames its first offshore oil development

The Government of Senegal has decided to rename the country’s first offshore oil development, the SNE field, to the Sangomar field.

Source: FAR

Woodside is the operator of the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture, which includes the SNE field, with a 35% interest. Woodside’s partners are Cairn Energy, FAR, and Petrosen with 40%, 15%, and 10% interest, respectively.

FAR Limited announced on Tuesday that President Macky Sall of Senegal had renamed the SNE field to the Sangomar field to better reflect the field’s association with the people of Senegal.

The Sangomar field is located in the Sangomar Deep Offshore block, 100 kilometres south of Dakar and will be Senegal’s first offshore oil development. Sangomar is the geographical name for an island located at the southern point of the Petite Cote (or little coast), that runs south from Dakar.

FAR added that Sangomar was also an important cultural area inhabited by the Serere people of Senegal and is part of the Saloum Delta National Park, an environmentally important area of mangrove-lined creeks, sandy islands and woodlands.

According to FAR, SNE, the world’s largest conventional oil discovery in 2014, is today recognized as a global tier one oil field with 2C oil resources in excess of 640 mmbbls.

Formal government approval of the Development and Exploitation Plan (EP) and Final Investment Decision (FID) is anticipated in December 2019 with first oil forecast in late 2022.

The field will be developed using an FPSO unit, which will be designed to produce around 100,000 barrels of crude oil per day.

Phase 1 of the development will target an estimated 230 mmbbl of oil resources from 11 producing wells, 10 water injectors and 2 gas injectors. Phase 2 is targeting a further 253 mmbbl oil and extending the production plateau to between 60,000- 80,000 bpd. Phase 2 is expected to comprise a further 16 production wells and 17 injectors.

In related news, FAR has recently made plans to arrange a seven-year debt facility of up to $350 million for the development of the SNE oil field. FAR is targeting binding and committed terms upon completion of each banks’ credit approval process on or before the end of 2019.

Offshore Energy Today Staff

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