Oil and gas exploration company Cairn Energy has announced that it will focus on delivering a multi-well appraisal and exploration programme in Senegal in 2015
According to the company, the programme in Senegal is fully funded along with the Kraken and Catcher developments in the North Sea, which are targeting first oil in 2017.
Simon Thomson, CEO of Cairn Energy, said, “Our focus in 2015 is to deliver a multi-well appraisal and exploration programme in Senegal, following our success in opening up the new Atlantic Margin basin in 2014.
“The large acreage position in Senegal offers material near term growth potential with numerous follow on prospects identified and the JV is well-positioned to benefit from the current reduction in industry costs.”
Cairn Energy is targeting peak net targeted production of 20,000 bpd from the two projects, added Thomson.