Most of next year’s budget for Australian energy company FAR Ltd. will focus on Senegal, where Cairn Energy serves as the operator. The majority of the budget for 2018 will be targeted to the development of major oil discoveries off the coast of Senegal, FAR Ltd. said Tuesday. FAR Ltd. is working alongside partners tapping the emerging basins off the coast of West Africa. The broader West African basin is gaining a reputation as an emerging producer and Senegal in particular could hold more than 1.5 billion barrels of oil off its coast The Australian company in an update on first-half operations said that, as of June 30, it had more assets than liabilities, with cash and cash equivalents of $91.3 million on hand. FAR is committed to $14 million toward the development of Senegal’s offshore oil. “The majority of […]