FAR Ltd (ASX:FAR), as part of the RSSD joint venture, has awarded MODEC International Inc the front-end engineering design (FEED) contract of the floating production storage and offloading (FPSO) facility for the SNE oil field offshore Senegal.
The FPSO will be designed to allow for the integration of subsequent SNE development phases, including gas export to shore and future subsea tie-backs from other reservoirs and fields.
MODEC is recognised as a leading specialist for FPSO vessels having delivered 46 floating production systems and currently owning 13 FPSOs.
FAR holds a 15% interest in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture, which is developing the SNE field.
FAR managing director Cath Norman said: “This is another milestone reached for the SNE development and for the RSSD joint venture towards reaching a Final Investment Decision (FID) targeted for 2019.”
The SNE field is being developed in phases, with the first targeting an estimated 230 million barrels of oil resources from 11 producing wells, 10 water injectors and two gas injectors.
This phase will primarily target the lower, less complex reservoirs.
FAR expects its FPSO vessel to have a capacity of around 90,000 barrels of oil per day in the first phase, with first oil targeted for 2022.