FAR to seek conventional bank loan for SNE

FAR Limited has narrowed its range of funding options for its share of the first phase of the SNE oil project offshore Senegal, opting for a traditional bank loan of US$350 million to cover its share of around $500 million in costs. 

FAR to seek conventional bank loan for SNE FAR to seek conventional bank loan for SNE FAR to seek conventional bank loan for SNE FAR to seek conventional bank loan for SNE FAR to seek conventional bank loan for SNE

MD Cath Norman

Last month FAR released an update on SNE's economics, which included a new plan buy an FPSO outright rather than lease one, adding significantly to upfront costs at a total of US$1.2 billion.