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African Petroleum confident about oil offshore West Africa

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Staff Writer | October 16, 2017
African Petroleum
Africa   Gambia, Senegal, Ivory Coast and Sierra Leone

Some of the more promising oil basins off the coast of West Africa are close the point of pay off despite recent setbacks, African Petroleum said.

African Petroleum has assets in Gambia, Senegal, Ivory Coast and Sierra Leone. Of those, Senegal holds the most oil in its territorial waters, but much of the region is unexplored and the full potential has yet to be realized.

Hailed as one of the largest discoveries when declared in 2014, the companies tied to Senegal say the SNE offshore field, combined with other exploration developments, may hold more than 1.5 billion barrels of oil. Australian energy company FAR Ltd. and British company Cairn Energy, the operator, declared a new discovery offshore Senegal in August, just to the north of SNE.

African Petroleum said it was applying to start a new survey and drilling campaign at other areas offshore Senegal, but added the uncertainty on the trajectory made it difficult to find operating partners.

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