Edinburgh-based Cairn Energy has discovered oil off Senegal in West Africa. Describing the find as an “important event”, the company said that it is currently evaluating the discovery, alongside the Senegal government and its partners.

CEO Simon Thomson said: “The oil discovered in the FAN-1 prospect is an important event for Senegal and the joint venture. We have encountered a very substantial oil-bearing interval, which may have significant potential as a stand-alone discovery.

“Furthermore, this result materially upgrades the ‘prospectivity’ of the block with a proven petroleum system and a number of deep-fan and shelf prospects established. Work is already underway with the joint-venture partners to determine follow-up activity, which is targeted for 2015 onwards.

“Cairn looks forward to working with the government of Senegal and our partners to realise the full potential of this large-acreage position off the west coast of Senegal.”