African Petroleum upbeat about its prospects despite a series of setbacks with its West African portfolio. Photo courtesy of African Petroleum. Oct. 16 (UPI) — Some of the more promising oil basins off the coast of West Africa are close to the point of pay off despite recent setbacks, African Petroleum said Monday. African Petroleum has assets in Gambia, Senegal, Ivory Coast and Sierra Leone. Of those, Senegal holds the most oil in its territorial waters, but much of the region is unexplored and the full potential has yet to be realized. Hailed as one of the largest discoveries when declared in 2014, the companies tied to Senegal say the SNE offshore field, combined with other exploration developments, may hold more than 1.5 billion barrels of oil. Australian energy company FAR Ltd. and British company Cairn Energy, the operator, declared a new discovery offshore Senegal in August , just […]