London: Oil explorer Cairn Energy and its joint venture partners have discovered oil at a well offshore Senegal and further exploration work nearby is already planned, the company said on Tuesday.
The companies encountered 29 metres of net oil bearing reservoir at the FAN-1 well, located around 100 km off the coastline and 1,427 metres deep.
"We have encountered a very substantial oil bearing interval which may have significant potential as a standalone discovery," said Cairn Energy chief executive Simon Thomson.
Cairn Energy has a 40 percent interest in three offshore blocks in Senegal, while ConocoPhillips has 35 percent, FAR Ltd 15 percent and Senegal`s national oil company Petrosen owns 10 percent.
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