Cairn Energy Plc takes final investment decision in Senegal

Cairn Energy Plc (LON: CNE) has taken final investment decision in Senegal.

  • The company has informed that it along with its joint venture partners, Woodside and FAR, in agreement with Petrosen and the Government of Senegal, have signed a joint FID (Final Investment Decision).
  • The Final Investment Decision agreement on Phase 1 had received the 25-year Exploitation Authorisation from the Government of Senegal recently.
  • As per the company, MODEC, Inc, for the purchase of an FPSO, Diamond Offshore for two well-based contracts and Subsea Integration Alliance for the construction and installation of the integrated subsea production systems, are the key contractors for the development.
  • On 15th January 2020, at the time of writing, GMT 08:04 AM, CNE shares were trading at GBX 195.30, down by 0.10 points or 0.05% against the previous day closing price.