• 4 minutes Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 9 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 17 minutes Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 23 hours Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 2 hours Saudi Arabia turns to solar
  • 13 hours Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 8 hours Could oil demand collapse rapidly? Yup, sure could.
  • 2 hours Corruption On The Top: Netanyahu's Wife Charged With Misuse of Public Funds for Meals
  • 4 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 5 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 8 hours Gazprom Exports to EU Hit Record
  • 4 hours U.S. Withdraws From U.N. Human Rights Council
  • 8 hours OPEC Meeting Could End Without Decision - Irony Note Added from OPEC Children's Book
  • 13 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 6 hours What If Canada Had Wind and Not Oilsands?
  • 7 hours "The Gasoline Car Is a Car With a Future"
  • 1 hour EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 19 hours EVs Could Help Coal Demand
  • 7 hours Sell out now or hold on?
Editorial Dept

Editorial Dept

More Info

Trending Discussions

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…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





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