FAR (ASX:FAR) secures government approval

Company News

by Katrina Bullock

FAR (ASX:FAR) has announced that the Government of Senegal has approved the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore joint venture Exploitation Plan.

The Government has granted the Exploitation Authorisation for the Sangomar Field Development.

The Development and Exploitation Plan outlines the full field multi-phase development of oil and gas in the region.

First oil is expected early 2023.

FAR managing director Cath Norman says “This is a momentous milestone for the joint venture and the people of Senegal, and FAR is proud to have played an integral part in the discovery, appraisal and now commitment to develop the significant oil resource offshore Senegal.”

Shares in FAR (ASX:FAR) closed flat at $0.04 yesterday.

Katrina Bullock

Finance News Network
Katrina joined FNN in 2018. She holds a Bachelor of Laws (Honours first class), a Bachelor of Business (Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She previously worked as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel for Greenpeace Australia Pacific.