News

Senegal Update

25 Feb 2019

Senegal Update

The enclosed announcement has been reported by Woodside with regards to the SNE development in Senegal in which Cairn has a 40% working interest.

Enquiries to:

Analysts / Investors
David Nisbet, Corporate Affairs
Tel: 0131 475 3000

Media
Linda Bain, Corporate Affairs
Cairn Energy PLC
Tel: 0131 475 3000

Patrick Handley, Will Medvei
Brunswick Group LLP
Tel: 0207 404 5959

About Cairn Energy PLC
Cairn is one of Europe's leading independent oil and gas exploration and development companies and has been listed on the London Stock Exchange for 30 years. Cairn has explored, discovered, developed and produced oil and gas in a variety of locations throughout the world as an operator and partner in all stages of the oil and gas lifecycle.

Cairn’s exploration activities have a geographical focus in North West Europe, West Africa and Latin America, underpinned by interests in production and development assets in the North Sea. Cairn has its head-quarters in Edinburgh, Scotland supported by operational offices in London, Norway, Senegal and Mexico.

For further information on Cairn please see: www.cairnenergy.com

SNE FIELD DEVELOPMENT SECURES FPSO AHEAD OF FID

Woodside, as Operator of the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture1, has awarded MODEC International Inc.2 the front-end engineering design (FEED) contract for the SNE Field Development Phase 1 floating production storage and offloading (FPSO) facility.

Following FEED, and subject to necessary government and joint venture approvals, it is anticipated further contracts will be awarded to MODEC to supply, charter and operate the FPSO facility.

Woodside CEO Peter Coleman said the award of the FPSO FEED contract was an important milestone and continued the development’s momentum since commencing FEED activities late last year.

“Securing an FPSO facility is a significant step for the joint venture and will allow the project team to complete the technical and commercial activities required to support a final investment decision, targeted for mid-2019,” he said.

The FPSO FEED contract award follows the subsea FEED scope being awarded to Subsea Integration Alliance in December 2018.

The development concept is a stand-alone FPSO facility with 23 subsea wells and supporting subsea infrastructure.

The FPSO is expected to have a capacity of around 100,000 bbl/day, with first oil targeted in 2022. The FPSO will be designed to allow for the integration of subsequent SNE development phases, including gas export to shore and future subsea tie-backs from other reservoirs and fields. Phase 1 of the development will target an estimated 230 MMbbl of oil.

The SNE Field Development Phase 1 is a key component of Woodside’s Horizon II growth strategy.


1 The RSSD joint venture comprises Capricorn Senegal Limited (a subsidiary of Cairn Energy), Woodside Energy (Senegal) B.V., FAR Ltd and Petrosen (the Senegal National Oil Company).

2 A subsidiary of MODEC, Inc.

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