Brent crude was up by $0.51 at $58.26 a barrel. Credit: Berardo62.

The Government of Senegal has approved a Woodside Energy-led joint venture’s (JV) proposed $4.2bn Sangomar offshore oil field.

The Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) JV comprises Crain Energy subsidiary Capricorn Senegal (40%), Woodside Energy (35%), FAR (15%) and Senegal national oil company Petrosen (10%).

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Sangomar Field Development is located within the Senegalese part of the Mauritania-Senegal-Guinea Bissau Basin. Woodside Energy is the operator of the RSSD joint venture.

The development concept for the first phase of the Sangomar field is a floating production storage and offloading (FPSO) facility. It has 23 subsea wells and other associated subsea infrastructure.

Authorisation by the government creates a path for investment decisions for the project to proceed further with the development.

Woodside CEO Peter Coleman said: “We look forward to progressing the project towards first oil in early 2023 and expect that our experience in offshore FPSO developments will support its delivery on cost and schedule.

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“We are grateful for the ongoing support of the Government of Senegal and will be working with all stakeholders to ensure that the country’s first oil project delivers enduring benefits to its people.”

The RSSD JV has awarded major contracts of the project development to Modec, Subsea Integration Alliance and Diamond Offshore.

MODEC will provide an FPSO with an oil processing capacity of 100,000 barrels per day (bpd). Subsea Integration Alliance will construct and install integrated subsea production systems and subsea umbilicals at the project site.

Diamond Offshore has been contracted for the drill rigs Ocean BlackRhino and Ocean BlackHawk.

Last month, Woodside Energy and its partners submitted the Sangomar development and exploitation plan and exploitation authorisation request to the Senegalese Government.