Woodside (ASX:WPL) is overseeing the development of the Sangomar oilfield and report that the Government of Senegal has approved the Rufisque Offshore and Sangomar offshore joint venture Exploitation Plan.
The JV comprises Woodside Energy (Senegal) B.V., Capricorn Senegal, a subsidiary of Cairn Energy PLC, FAR Ltd and Petrosen, the Senegal National Oil Company.
The Sangomar Development concept is a stand-alone floating production storage and offloading facility with 23 subsea wells and supporting subsea infrastructure.
First oil is targeted in early 2023.
Shares in Woodside (ASX:WPL) are trading 1.3 per cent lower at $35.66.