The Next Global Oil Hotspot

A great call out for FAR’s assets in Senegal and the broader African region ... next few months / years will be very interesting if the big end of town starts an acquisition strategy

https://oilprice.com/Energy/Crude-Oil/The-Next-Global-Oil-Hotspot.html

The Next Global Oil Hotspot
By Irina Slav - Sep 06, 2018, 3:00 PM CDT

“Senegal is another focus of attention. The SNE project, comprising three offshore blocks, might contain up to 1.5 billion barrels of crude, Australian explorer FAR, one of the partners developing the SNE, said. The partnership also includes ConocoPhillips, Cairn Energy—the operator—and Senegal’s oil company Petrosen. The final investment decision on the project is expected next year. The first phase of the project would tap an estimated 240 million barrels.

Senegal is also a potential major gas producer. Kosmos and BP—partners in the offshore gas discovery Tortue that extends into Mauritania waters—expect a final investment decision (FID) for the Greater Tortue project around the end of 2018 and are aiming for first gas in 2021.

Kenya is another African oil hopeful. First oil in Kenya was found in 2012 by Tullow Oil and in June this year the east African country even started exporting crude under a pilot scheme that would see 2,000 bpd trucked to the port city of Mombasa and stored until there is enough to be loaded on tankers and shipped abroad”