Petrosen increases stake in Sangomar project
Published by Nicholas Woodroof,
Editor
Oilfield Technology,
As a result, FAR’s stake in the Sangomar Exploitation Area decreases from 15% to 13.67%.
Petrosen is now required to reimburse the other RSSD venturers their pro-rata share of the 8% of expenses relating to the Sangomar Exploitation Area incurred since 8 January 2020. As at the end of June 2020, the share due to FAR is US$4.79 million.
FAR’s Managing Director, Cath Norman said, “FAR has long planned for Petrosen’s interest accretion and it has been reflected in our modelling and communications. The FAR Board continues to pursue a sale of all or part of FAR’s stake in lieu of an alternate financing option.”
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/21082020/petrosen-increases-stake-in-sangomar-project/
You might also like
Odfjell Technology works with Hunt Oil Company to achieve depth record for casing while drilling
By implementing the company’s CwD services, Hunt Oil reduced the number of runs required, with a saving on time and cost.
