KeyFacts Energy: Woodside Senegal country profile   l   KeyFacts Energy Industry Directory: RISC Advisory

Woodside are divesting part of their 82% participating interest in the Sangomar development in Senegal. The venture took the final investment decision on Phase-1 in January 2020. Execution is underway with the FPSO and development drilling contract awarded and first oil estimated 2023.

RISC has evaluated Sangomar (formerly SNE) several times since the SNE-1 discovery in 2014. Following our resource assessment for FAR in 2016, the then Operator Cairn Energy increased their resource estimates toward RISC’s higher estimates. RISC updated their evaluation after SNE-2 and 3 increasing the 2C estimate 20% to 561 MMbbl oil. The Company updated their assessment again after seven appraisal wells.

Woodside bought ConocoPhillips 35% interest in SNE for US$440 million in 2016 and further increased it’s interest through acquisition of Cairn Energy and FAR’s interest in 2020/2021.

The development has subsea wells tied to a 100,000 bpd FPSO in 800m water depth, 75 km offshore. The FPSO is expected to have capacity for further phases of development and options for gas export. Phase-1 with 23 wells targets 230 MMbbl oil. Woodside’s 2020 annual report assign a further 233 MMbbl oil and 235 Bscf raw gas to subsequent phases of development.