Woodside ends Sangomar move by ONGC Videsh

摘要

AUSTRALIAN independent Woodside Petroleum has ended the proposed sale by compatriot junior Far Ltd of a stake in the sizeable Sangomar oilfield off Senegal to India's ONGC Videsh, by exercising its pre-emption right. The move, revealed late last week, came just weeks after Woodside also put an end to Russian privately held oil giant Lukoil's attempt to gain an interest in Sangomar after pre-empting a planned sale by UK independent Cairn Energy. Last month, Far unveiled a deal to sell its interest in the deep-water field and the surrounding acreage to ONGC Videsh - the overseas arm of Indian state-controlled giant Oil & Natural Gas Corporation - subject to Woodside's veto.