Cairn Energy PLC (LON:CNE) continues to advance the SNE project, today confirmed that the development and exploitation plan for the field had been submitted to the Government of Senegal on schedule.
Additionally, it noted that partner Woodside Energy has now exercised its option to become the operator of the SNE project.
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Work is now underway is underway to facilitate the transfer of operatorship. It is now only subject to government consent.
The submitted plan outlines the full multi-phase development of oil and gas, which would see the phased construction and ramp-up of output to 100,000 barrels of oil per day by 2022.
Cairn noted that tender responses have now been received for the project’s floating production (FPSO) vessel and subsea infrastructure. The evaluation and the short-listing process is taking place.