FAR holders back Woodside sale
Shareholders in FAR have approved the sale of the company’s stake in a Senegal licence to Woodside Energy.
Updated: 28/04/2021, 8:43 am
An artist rendering of the Sangomar FPSO
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Shareholders in FAR have approved the sale of the company’s stake in a Senegal licence to Woodside Energy.
A vote held on April 28 saw 97.25% of shares backing the sale, while 2.75% opposed.
FAR receives off-market takeover bid from Remus Horizons 15 April 2021 (Last Updated April 15th, 2021 15:14)
Australian oil and gas company FAR has received off-market takeover offer from private investment fund Remus Horizons PCC for $159.15m (A$209.6m).
Woodside Energy is the operator of the RSSD joint venture. Credit: Julius Romero / Pixabay.
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Australian oil and gas company FAR has received off-market takeover offer from private investment fund Remus Horizons PCC for $159.15m (A$209.6m).
Remus Horizons, which a private investment fund regulated by the Guernsey Financial Services Commission, has offered $0.016 (A$0.021) per share in cash to FAR’s shareholders.
Remus’ proposed takeover is contingent on FAR’s shareholders voting against the sale of the company’s 15% stake in the $4.2bn Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore project (RSSD project) offshore Senegal.
Posted: 3 months ago
Woodside also said on Wednesday that, by the time it berthed in Dalian, the vessel had been named FPSO Léopold Sédar Senghor after Senegal’s first president from 1960 to 1980.
Before it departed Indonesia for China the vessel had to be cleaned of residual hydrocarbons, and its tank bulkhead thickness inspected to confirm the hull’s structural integrity and aid development of the refurbishment scope.
Other shipyards in China will be used to complete the work necessary for the vessel’s conversion to an FPSO and Woodside workers will be working in four yards.
In parallel, Woodside has mobilised an engineering and project management team to MODEC’s office in Singapore.
Australia s FAR gets $170 million takeover offer from Russia s Lukoil Reuters 17/02/2021
(Reuters) - FAR Ltd said on Wednesday it received a non-binding, indicative takeover offer from Russian energy company PJSC Lukoil, valuing the Australian oil and gas explorer at A$220 million ($170.37 million).
Lukoil offered 2.2 Australian cents in cash per share, double FAR s last close price and higher than the 2.1 cents a share offered by private investment firm Remus Horizons PCC Ltd in December.
Lukoil s offer comes months after its bid to enter Senegal by buying Cairn Energy s stake in the Sangomar oil project was derailed by Woodside Petroleum, which exercised its right to match the $400 million offer.