Australian energy giant Woodside has submitted its development and exploitation plan for the Sangomar field, formerly known as SNE, located offshore Senegal, ahead of the Final Investment Decision for the project scheduled to occur later this month.
Woodside is the operator of the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture, which includes the Sangomar field, with a 35% interest. Woodside’s partners are Cairn Energy, FAR, and Petrosen with 40%, 15%, and 10% interest, respectively.
The Australian company said on Tuesday that the plan was submitted to the Government of Senegal on December 2, 2019. It is worth reminding that the government in November renamed the country’s first offshore oil development, the SNE field, to the Sangomar field, “to better reflect the field’s association with the people of Senegal.”
Woodside also said that the development and exploitation plan and exploitation authorization request were the last major regulatory submissions required before final investment decisions could be made by each joint venture participant. The FID is targeted to occur later this month subject to the grant of an exploitation authorization and relevant joint venture approvals.
Woodside CEO, Peter Coleman, said: “The submission of the Exploitation Plan and authorization request is the culmination of front-end engineering design activities. These are the final documents required by the Government ahead of granting approval to proceed.”
First oil in 2023
The Sangomar Field Development Phase 1 concept is a stand-alone floating production storage and offloading (FPSO) facility with 23 subsea wells and supporting subsea infrastructure. The FPSO is expected to have a capacity of around 100,000 bbl/day, with first oil targeted in early 2023.
The FPSO will be designed to allow for the integration of subsequent Sangomar development phases, including gas export to shore and future subsea tie-backs from other reservoirs and fields. Phase 1 of the development will target an estimated 230 MMbbl of oil.
In a separate statement on Tuesday FAR Limited said that the plan outlined the full field multi-phase development of oil and gas and detailed how the Sangomar field would be developed in a series of phases with plans for 645 mmboe (485 mmbbl oil and 160mmboe gas) to be developed.
Developing this world class oil field in Senegal, the largest global hydrocarbon discovery in 2014, has the potential to transform FAR from explorer to material producer and become one of the largest ASX-listed oil producers in early 2023, FAR said.
FAR managing director Cath Norman, said, “Submission of the final version of the Development and Exploitation Plan for the Sangomar Field Development is a huge milestone for FAR and the joint venture. FAR has been in the RSSD project offshore Senegal since 2006 and is thrilled to be developing one of the largest offshore oil discoveries of the last ten years. The Sangomar Field Development is anticipated to result in considerable cash generated for FAR and its shareholders from first oil in 2023, a time when FAR would also be one of the largest oil producers listed on the ASX.”
Offshore Energy Today Staff
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