FAR Profile
FAR Limited engages in the exploration and production of oil and gas.
In West Africa, the company holds the portfolio of exploration licences of any ASX listed entity spanning Senegal and Guinea Bissau. In East Africa, the company has significant exposure to the emerging oil and gas province of Kenya. The company also holds acreage surrounded by proven petroleum systems in Western Australia.
The company has an interest in two Kenya permits, Block L6 and Block L9. These blocks are located in the Lamu Basin offshore and onshore Kenya, north of recent world-scale, natural gas discoveries totaling approximately 100 trillion cubic feet. The Block L6 permit area, approximately 3,134 square kilo meters, has both onshore and offshore potential with water depths varying from shallow transition zones to approximately 400 meters.
In 2015, the company and its Senegal joint venture partners executed contracts for the use of the Ocean Rig Athena drillship for the Senegal drilling program. The Polarcus Adira vessel began the new Senegal joint venture 3D seismic survey over the company’s Sangomar and Rufisque Blocks in 2015. The company has participated in a speculative 3D seismic survey acquired approximately 62% of the WA-458-P permit that commenced in 2015.
History
The company was incorporated in 1984. It was formerly known as First Australian Resources NL and changed its name to FAR Limited in 2010.
