Scotland business

Edinburgh-based Cairn Energy finds oil off Senegal

Cairn Energy plant Image copyright Other

Oil and gas explorer Cairn Energy has announced the discovery of oil off Senegal in West Africa.

The find was made by an exploration well 100km offshore.

The Edinburgh-based company described it as an "important event" for their venture.

The firm said it would now continue to evaluate the discovery, working along with the Senegal government and its partners.

The well is located in the Sangomar Deep block.

'Significant potential'

Simon Thomson, chief executive officer at Cairn Energy said: "The oil discovered in the FAN-1 prospect is an important event for Senegal and the joint venture.

"We have encountered a very substantial oil bearing interval which may have significant potential as a standalone discovery.

"Furthermore, this result materially upgrades the prospectivity of the block with a proven petroleum system and a number of deep fan and shelf prospects established."

He added: "Work is already underway with the joint venture partners to determine follow up activity which is targeted for 2015 onwards.

"Cairn looks forward to working with the government of Senegal and our partners to realise the full potential from this large acreage position off the west coast of Senegal."

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