Junior player FAR Ltd has flagged a potential delay to Woodside Petroleum's $7 billion oil project in Senegal, while more job losses are looming in WA gas as turmoil builds in the industry as a result of the oil price crash.

Adding to the upheaval is a warning from Citigroup analyst James Byrne that Oil Search could need to raise $US400 million ($666 million) in equity to pay an upcoming maturing loan and boost its coffers to withstand oil prices that may average just $US30 a barrel this year.