As of October 2018, a data room was set-up at Svenska Petroleumâs offices for the farm-in opportunity on Block 2 (Sinapa permit), shallow waters of the MSGBC Basin. Â In July 2018 partner FAR reported that the joint venture is farming out the permit to fund a well on the Atum prospect which has to be drilled before permit expiry in November 2020.  In mid-January 2017 it was reported that Svenska Petroleum renewed its farm-in offer for Block 2 (Sinapa permit), Blocks 4A and 5A (Esperanca permit) offshore MSGBC Basin. The company got a validity extension for its acreage and the permits are valid until November 2020. The company is offering interests in the permits in exchange for the funding of the work program. Svenska wanted initially to appraise the Sinapa oil discovery but since the discovery of the SNE field in neighbouring Senegal, the company acquired fresh 3D seismic in 2015 and identified new prospects, notably Atum in Block 2 and Anchova across blocks 2 and 4A. Svenska operates the two permits with 55% interest. Partners are FAR with 15% and state company Petroguin has a 30% carried interest.     In 2014, Svenska was seeking partners for its Block 2 (Sinapa permit), Blocks 4A and 5A (Esperanca permit). Plans were to spud an exploration well on the Sinapa West prospect in the first quarter of 2015 for an estimated cost of USD 37 million. In case of success, one appraisal well was planned.    In February 2014, FAR estimated the West Sinapa prospect to have prospective resources (P50) of 64.7 MMbo and North Solha prospect has prospective resources (P50) of 28.4 MMbo. Contingent resources (P50) for the East Sinapa discovery are of 13.4 MMbo    Background Information    The company also had plans to drill appraisal well Sinapa 3 and new-field wildcat N Structure 1AX. Svenska acquired 1,640 sq km of 3D seismic data and 6,712 line-km (1,200 sq km) of gravity data over its blocks before 2015.     Svenska has reportedly conducted an assessment of various low-cost development options for its Sinapa oil discovery located in 30 m of water. Partner FAR Ltd indicated in March 2010 that it is considering the use of Mobile Offshore Production Units (MOPU) or Dry Trees with fixed platform topsides processing tied back to an FPSO.
As of October 2018, a data room was set-up at Svenska Petroleumâs offices for the farm-in opportunity on Block 2 (Sinapa permit), shallow waters of the MSGBC Basin. 