Cairn Energy PLC Senegal update (0941F)
25 October 2018 - 5:00PM
UK Regulatory
TIDMCNE
RNS Number : 0941F
Cairn Energy PLC
25 October 2018
FOR IMMEDIATE RELEASE 25 October 2018
CAIRN ENERGY PLC
("Cairn" or "the Company" or "the Group")
Senegal update
Cairn is pleased to announce that the Development and
Exploitation Plan for the SNE field offshore Senegal has been
submitted on schedule to the Government of Senegal by the Joint
Venture (JV)* with approval targeted later this year.
Cairn also announces that JV partner Woodside Energy (Senegal)
B.V. has exercised its option to become Operator of the SNE field
development. Work is already well underway to facilitate transfer
of operatorship which is now subject only to government
consent.
The Development and Exploitation plan outlines the full
multi-phase development of oil and gas. The field will be developed
in a series of phases with plans for 500 million barrels of oil
(mmbbls) and gross production of 100,000 barrels of oil per day
(bopd) with first oil targeted in 2022. Following the establishment
of oil production, commercial gas sales to Senegal are expected to
commence.
The tender responses for the FPSO facility and supporting subsea
infrastructure have been received and are under evaluation and
short-listing ahead of Front End Engineering Design (FEED) planned
later this year. In parallel with the detailed engineering work, an
Environmental and Social Impact Assessment study has been submitted
to the National Technical Committee.
The submission of the Exploitation Plan coincides with the
opening today of the MSGBC conference for the oil and gas industry
in Dakar, Senegal.
*The Joint Venture comprises Cairn as current Operator with a
40% Working Interest (WI) alongside partners Woodside 35% WI, FAR
Ltd 15% WI and the Senegal National Oil Company, Petrosen 10% WI
(Petrosen has the right to increase its equity to 18% on
development).
Enquiries to:
Analysts / Investors
David Nisbet, Corporate Affairs Tel: 0131 475 3000
Media
Linda Bain, Christian Goodbody Tel: 0131 475 3000
Cairn Energy PLC
Patrick Handley, Will Medvei Tel: 0207 404 5959
Brunswick Group LLP
NOTES TO EDITORS
About Cairn Energy PLC
Cairn is one of Europe's leading independent oil and gas
exploration and development companies and has been listed on the
London Stock Exchange for 30 years. Cairn has explored, discovered,
developed and produced oil and gas in a variety of locations
throughout the world as an operator and partner in all stages of
the oil and gas lifecycle.
Cairn's exploration activities have a geographical focus in
North West Europe, West Africa and Latin America, underpinned by
interests in production and development assets in the North Sea.
Cairn has its headquarters in Edinburgh, Scotland supported by
operational offices in London, Norway, Senegal and Mexico.
For further information on Cairn please see:
www.cairnenergy.com
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END
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