The joint venture comprised of Capricorn Senegal (a subsidiary of Cairn Energy), Woodside, FAR and Senegal’s National Oil Company Petrosen, has agreed to commence FEED activities for the SNE Field Development-Phase 1 offshore Senegal.
The FEED work involves undertaking activities required to finalise the costs and technical definition for the proposed development to enable a final investment decision, targeted for mid-2019.
Woodside CEO Peter Coleman said the decision to commence FEED activities was a significant step towards the development of Senegal’s first oil project.
“We plan to progress the SNE development towards the earliest possible commercialisation of the discovered resources. Completing FEED activities will be a key enabler of a final investment decision. We are also excited to be moving forward on the SNE development as it is a key pillar of Horizon Two of our growth strategy.”
Commencing FEED activities follows approval by the Senegalese Minister of Petroleum and Energies of Woodside assuming the role of operator, and the RSSD joint venture’s submission of the SNE Field Development and Exploitation Plan to the Government of Senegal.
The SNE development concept is a stand-alone floating production storage and offloading vessel (FPSO) facility with supporting subsea infrastructure. It will be designed to allow subsequent SNE development phases, including options for gas export to shore and for future subsea tiebacks from other reservoirs and fields.
Phase 1 of the development will target an estimated 230 MMbbl of oil resources (P50 gross) from the lower, less complex reservoirs and an initial phase in the upper reservoirs. The FPSO is expected to have a capacity of around 100,000 bbl/day, with first oil production targeted in 2022.