African focused oil and gas explorer
FAR’s African portfolio includes five exploration blocks in The Gambia and Guinea-Bissau in West Africa.
FAR had exploration success in the first two deep water wells ever drilled offshore Senegal, FAN-1 and SNE-1 which attracted very strong interest from the global oil and gas industry.
Since mid 2014, FAR drilled eleven successful exploration and appraisal wells in Senegal. According to US Geological Survey estimates, the geology stretching from Mauritania to northern Namibia in West Africa may hold 71.7 billion barrels of undiscovered oil. Currently, FAR has five blocks located within this region.
FAR’s core West African program is in The Gambia where it currently has interests in two deep water blocks. FAR was previously involved in three blocks in Senegal which had two discoveries in the first two wells drilled and nine subsequent successful appraisal/exploration wells including an additional three discoveries.
In Guinea Bissau, which lies immediately south of The Gambia, FAR holds three offshore blocks where recent seismic data has outlined a highly promising prospect.
FAR continues to evaluate African offshore opportunities and aims to build on its established standing in the region.