First Australian Resources (FAR) has signed an agreement with Shell Exploration Company to conduct petroleum exploration of Sangomar Offshore, Rufisque Offshore and Sangomar Deep Offshore blocks off the coast of Senegal,where a number of drilling prospects have already been identified by FAR and its Senegalese partner Petrosen.
The objective of the program is designed to enable Shell to determine whether or not to exercise an option to acquire greater interest in the block and enter the second renewal period that includes a well commitment.
Shell will fund a controlled source electro magnetic (CSEM) data acquisition and geophysical evaluation programme over part of the licence area where a number of drilling prospects have already been identified by FAR. The work gets underway soon.
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