Woodside increases interest in Sangomar project

Published by Nicholas Woodroof, Editor
Oilfield Technology, Friday, 04 September 2020 14:00

Woodside Energy (Senegal) B.V. has entered into a binding sale and purchase agreement to acquire Capricorn Senegal Limited’s entire participating interest in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture.

This follows Woodside’s exercise of its pre-emptive rights announced on 17 August 2020.

Completion of the acquisition is subject to Government of Senegal approval, Cairn Energy PLC shareholder approval and other customary conditions precedent, and is targeted for 4Q20.

Following completion, Woodside’s equity interest will increase to approximately 68.33% in the Sangomar exploitation area and to 75% for the remaining RSSD evaluation area. Woodside will remain operator.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/04092020/woodside-increases-interest-in-sangomar-project/

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