Cairn briefs investors on exploration in Senegal

OIL explorer Cairn has lodged plans for a major drilling campaign off the coast of Senegal, which it believes could unlock more than a billion barrels.

Cairn is planning a west African drill project. Picture: Contributed

Together with its joint venture partners, the Edinburgh firm has submitted a three-year work plan to the government of Senegal that includes an initial programme of three firm and three optional exploration wells, with drilling starting in the final quarter of 2015.

Cairn presented its plans to analysts and institutional shareholders in London yesterday.

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Chief executive Simon Thomson said the work plan was designed to “lay the foundation for a long term multi-field, multi-phase exploitation plan”.

He added: “We are excited about the exploration and ­appraisal opportunity of this world-class asset. Our focus will be to add value in Senegal within a balanced, well-funded company. We are well placed to take advantage of this exciting opportunity as we build on the success of last year.”

l Aberdeen-based Wood Group’s Kenny arm has won a five-year maintenance support contract with a project aimed at containing oil spills. Under the deal it will provide support for a toolkit developed by Oil Spill Response (Capping), an industry­-owned global co-operative.