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Woodside completes Sangomar acquisition
Summary As a result of this deal, Woodside’s participating interest in the RSSD project off Senegal has increased to 82% for the Sangomar exploitation area.
by: Shardul Sharma
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Woodside completes Sangomar acquisition
Australia s Woodside has completed the acquisition of the entire participating interest of Sydney-listed Far in the Rufisque, Sangomar and Sangomar Deep (RSSD) joint venture off Senegal, the company said on July 7.
The purchase price was $45mn plus a working capital adjustment of approximately $167mn to reflect the acquisition effective date of January 1, 2020. The final completion payment, after adjustments and remedying of Far’s defaults under the joint operating agreement, was approximately $126mn, Woodside said. Additional payments of up to $55mn are contingent on future commodity prices and timing of first oil.
Lukoil drops bid for Far
Apr 1, 2021 7:45:am
Summary The Russian company was seeking Far s stake in the RSSD oil and gas project off Senegal.
by: Joe Murphy
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Lukoil drops bid for Far
Russia s Lukoil has withdrawn its offer to buy Sydney-listed Far, a partner in the Rufisque, Sangomar and Sangomar Deep (RSSD) oil and gas project offshore Senegal, Far said on April 1.
Lukoil made its non-binding bid for Far, valued at $167mn, after a failed attempt to buy the Australian company s 14% stake in RSSD. Far announced earlier this year it had signed a sales and purchase agreement to transfer its interest in RSSD to Australia s Woodside, already an investor in the Senegalese project.