Gambia: Far wins Petronas farm-in

Australia’s Far has secured Malaysia’s Petronas as a farm-in partner to share the costs of its planned Samo-1 exploration well. Far announced on 26 February it had signed an agreement farming down a 40% stake in blocks A2 and A5. Far retains 40% and Erin Energy has the other 20%. Samo-1 is expected to be drilled in late 2018 and will be the first exploration well offshore Gambia since 1979. Under the agreement, Petronas will fund 80% of the well cost up to a $45m maximum total.