Senegal: ConocoPhillips farm-in

ConocoPhillips has farmed into offshore acreage held by Australia’s FAR, agreeing to fund an exploration well. Following a farm-in from Cairn Energy agreed in March, FAR is now fully funded for two exploration wells with an investment of $190m, and an exploration drilling programme is expected to start in H1 2014. Under the terms of the agreement, which is subject to government approval, ConocoPhillips will take a stake in the Rufisque, Sangomar and Sangomar Deep blocks.