• 5 minutes Covid-19 logarithmic growth
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 14 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 57 mins Cpt Lauren Dowsett
  • 1 hour Trump will meet with executives in the energy industry to discuss the impact of COVID-19
  • 40 mins Its going to be an oil bloodbath
  • 2 mins Marine based energy generation
  • 2 hours What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 5 hours Which producers will shut in first?
  • 2 hours CDC covid19 coverup?
  • 2 hours How to Create a Pandemic
  • 2 hours Iran-Turkey gas pipeline goes kaboom. Bad people blamed.
  • 13 hours The idea that electric cars are lowering demand is ridiculous.
  • 14 hours Russia's Rosneft Oil Company announces termination of its activity in Venezuela
  • 19 hours Natural gas price to spike when USA is out of the market
  • 21 hours The Most Annoying Person You Have Encountered During Lockdown

Breaking News:

IEA: OPEC Can’t Save The Oil Market

A Land Of Promise For Offshore Drillers

Not all regions of the world with proven oil are receiving attention from struggling oil companies. But as the lesser prospects get put on the shelf, companies are focusing on some of their core areas.

West Africa is one area that is not losing a ton of interest even though oil prices are low. In fact, there is one country that has the potential for some very positive news in the coming months.

Senegal

West Africa is a promising place for offshore oil drilling. Ghana has generated the most headlines in recent years, after several major discoveries kicked off that nation’s offshore rush. However, Senegal is another West African nation that holds huge potential.

Cairn Energy (LON: CNE), a British oil and gas exploration company, opened up an entire new basin for oil exploration in 2014 when it drilled two wells off the coast of Senegal and discovered oil in both. The finds were significant. Together, the two discoveries could hold more than 1 billion barrels of oil.

Cairn is exploring three blocks off Senegal’s coast – the Rufisque offshore, Sangomar Deep Offshore, and Sangomar Offshore, which stretch over 7,000 square kilometers. Cairn is the operator with a 40 percent interest in the blocks, and it has three partners as well, including ConocoPhillips (NYSE: COP) (35 percent stake), FAR Limited (ASX: FAR) (15 percent stake, Senegal’s state-owned firm Petrosen (10 percent stake).

Its first discovery was drilled…




Oilprice - The No. 1 Source for Oil & Energy News