Cairn discovers oil offshore Senegal

LONDON (Reuters) - Oil explorer Cairn Energy and its joint venture partners have discovered oil at a well offshore Senegal and further exploration work nearby is already planned, the company said on Tuesday.

The companies encountered 29 metres of net oil bearing reservoir at the FAN-1 well, located around 100 km off the coastline and 1,427 metres deep.

"We have encountered a very substantial oil bearing interval which may have significant potential as a standalone discovery," said Cairn Energy chief executive Simon Thomson.

Cairn Energy has a 40 percent interest in three offshore blocks in Senegal, while ConocoPhillips has 35 percent, FAR Ltd 15 percent and Senegal's national oil company Petrosen owns 10 percent.

 

(Reporting by Karolin Schaps, editing by William Hardy)