Dakar Echo Article

http://www.dakar-echo.com/bp-lorgne-des-parts-dans-les-actifs-senegalais-de-cairn-energy/


BP eyeing shares in Cairn Energy's Senegalese assets

NOVEMBER 22, 2017

On Monday, British oil company Cairn Energy told Reuters it is holding talks with super-major BP, which has expressed interest in part of its Senegalese portfolio.

According to the company's indications, BP would be interested in 30 of the 40% shares it holds in the deepwater perimeter, SNE. According to banking sources close to both parties and the ministry in charge of oil, these shares are valued at 600 million dollars.

"We are pleased that BP is considering taking a stake in the SNE perimeter. However, it is necessary to await the approval of the Senegalese Ministry of Petroleum. ", Commented a departmental adviser who wished to remain anonymous.

SNE is a block of high prospective value. It contains 563 million barrels 2P of recoverable crude oil and 1 Tcf of natural gas. Companies engaged in exploration are also targeting 240 million barrels, through the drilling of 25 wells in the lower compartments. Production will start between 2021 and 2023 with a production plateau between 75,000 and 125,000 barrels per day.

The other SEN partners are ConocoPhillips (35%), Far (15%) and Petrosen (10%).

====

Article also linked to twitter account of the British Ambassador to Senegal...