October 29, 2019 / 10:16 PM / 21 days ago

Australia's FAR says Senegal oil project to give company 13,670 barrels of oil/day

Oct 30 (Reuters) - Australian oil and gas explorer FAR Ltd on Wednesday said the SNE oil project off Senegal will deliver the company 13,670 barrels of oil per day.

“Given the strong economics for the development, the value of FAR’s share of the SNE field is forecast to triple in value between now and first oil,” FAR said in a statement.

The company said formal government approval of the project’s development and exploitation plan as well as the final investment decision is expected in December 2019, with first oil forecast in late 2022. (Reporting by Devika Syamnath in Bengaluru Editing by Chris Reese)

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