Cairn Energy PLC Senegal Update (2648Z)

TIDMCNE

RNS Number : 2648Z

Cairn Energy PLC

09 January 2020

For Immediate Release: 9 January 2020

CAIRN ENERGY PLC ("Cairn" or "the Company")

Senegal Update

The enclosed announcement has been issued by Woodside regarding the approval of the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture Exploitation Plan and granted the Exploitation Authorisation for the Sangomar Field Development, in which Cairn has a 40% working interest.

Enquiries to:

Analysts / Investors

David Nisbet, Corporate Affairs Tel: [phone]

Media

Linda Bain, Corporate Affairs Tel: [phone]

Cairn Energy PLC

Patrick Handley, David Litterick Tel: [phone]

Brunswick Group LLP

About Cairn Energy PLC

Cairn is one of Europe's leading independent oil and gas exploration and development companies and has been listed on the London Stock Exchange for 30 years. Cairn has explored, discovered, developed and produced oil and gas in a variety of locations throughout the world as an operator and partner in all stages of the oil and gas lifecycle.

Cairn's exploration activities have a geographical focus in North West Europe, West Africa and Latin America, underpinned by interests in production and development assets in the North Sea. Cairn has its headquarters in Edinburgh, Scotland supported by operational offices in London, Norway, Senegal and Mexico.

For further information on Cairn please see: www.cairnenergy.com

ASX Announcement

Thursday, 9 January 2020

ASX: WPL OTC: WOPEY

Woodside Petroleum Ltd.

ACN 004 898 962

Mia Yellagonga 11 Mount Street

Perth WA 6000 Australia

T [phone]

www.woodside.com.au

SANGOMAR FIELD DEVELOPMENT EXPLOITATION AUTHORISATION

The Government of Senegal has approved the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture Exploitation Plan and granted the Exploitation Authorisation for the Sangomar Field Development.

Commencement of the execute phase of the Sangomar Field Development Phase 1 (Sangomar Development) is subject to final execution of the Host Government Agreement with the Government of Senegal and the approval and award of key contracts.

The Sangomar Development concept is a stand-alone floating production storage and offloading (FPSO) facility with 23 subsea wells and supporting subsea infrastructure. The FPSO, expected to have a production capacity of 100,000 bbl/day, will process the oil before it is exported to market via tankers. First oil is targeted in early 2023.

The FPSO will allow for the integration of potential future development phases, including gas export to shore and future subsea tie-backs.

The RSSD joint venture comprises Woodside Energy (Senegal) B.V., Capricorn Senegal Limited (a subsidiary of Cairn Energy PLC), FAR Ltd and Petrosen (the Senegal National Oil Company).

Contacts:

 
   INVESTORS                                 MEDIA 
 
    Damien Gare                               Christine Forster 
    W: [phone]                        M: [phone] 
    M: [phone]                        E: [e-mail] 
    E: [e-mail] 
 

This ASX announcement was approved and authorised for release by Woodside's Disclosure Committee.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

UPDUKSNRRAUARRR

(END) Dow Jones Newswires

January 09, 2020 02:00 ET (07:00 GMT)