|
. | . |
|
by Daniel J. Graeber Melbourne (UPI) Apr 17, 2013
Australian energy company FAR Ltd. said Thursday developing offshore reserves in Senegal may open the flood gates for new oil deposits. FAR Ltd. said drilling began at the offshore exploration well, FAN-1, in the deep waters off the Senegalese coast. A second well is expected immediately after FAN-1 operations are completed and the Australian explorer said they're the first offshore wells targeting deep Senegalese waters in more than 20 years. "We have high hopes for these two wells which have the potential to be company makers for FAR," Managing Director Cath Norman said in a statement. "Of course exploration has its risks but we are confident that FAR can maximize the value from these two exploration wells." FAR said the targeted area may hold as much as 1.5 billion barrels of oil. FAR is a minority shareholder in the region. Its majority partners are Cairn Energy and ConocoPhillips. Cairn, serving as an operator, said in January frontier basins off the Senegalese and Moroccan coasts were key components of its exploration agenda for 2014. West Africa has drawn interest from international energy companies eager to tap into unexploited reserves.
Related Links Powering The World in the 21st Century at Energy-Daily.com
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service. |