There is a strategic interest emerging in oil from offshore Senegal, where a project can break even at $35 per barrel, the chairman of developer FAR Ltd. said. FAR is an Australian company, but has West African oil basins at the core of its portfolio. The company and its joint venture partners in March completed a geotechnical study of a 2,900 square mile permit area off the coast of Senegal that includes the flagship SNE oil discovery. The results revealed another 198 million barrels to the estimated 641 million barrels in the best estimate scenario of contingent reserves. With 11 successful wells drilled to date, FAR Managing Director Cath Norman said the revision is […]