Cairn sticks to SNE approval date despite arbitration


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Cairn Energy said it still expects a final investment decision on the SNE project off Senegal next quarter but sidestepped a question over whether ongoing arbitration could delay it.The company confirmed it may sell down some of its 40% interest around the time of final investment decision(FID)and once again said this would happen later this year.Operator Woodside recently said that arbitration by minority partner FAR over pre-emption rights regarding the sale of Con-ocoPhillips’stake could delay the FID as it caused uncertainty for financiers(see AOG 15 August).When asked if this was the case Cairn chief financial officer,James Smith,said:”If you are talking about the FAR Wood-side arbitration,we are obviously not a party to that.So,you wouldn't expect us to be able to comment on what the potential outcomes or the timing of that is.What we do know is that ev-erybody in the joint venture and particularly the government is aligned on seeing this project funded and FID in the time frame that we've talked about.”
机译:Cairn Energy表示,它仍然预计下季度塞内加尔的SNE项目的最终投资决定,但是持续仲裁的问题可能会延迟它。该公司确认它可能会销售其围绕最终投资决策时的一些40%的利息(FID)再次表示,这将在今年晚些时候发生这种情况。伍德赛德最近表示,少数伙伴的仲裁远远超过了关于销售on-ocophillips的销售权可能会推迟造成金融家不确定性的FID(见AOG 8 8月15日)。当询问这是案例的凯恩首席财务官,詹姆斯史密斯表示:“如果你谈论远方的木侧仲裁,我们显然不是一个派对。所以,你不会期望我们能够评论潜在的结果或那些时机。我们所知道的是,合资企业的EV-erybody,特别是政府在看到这个项目资助和时代的FID方面对齐我们谈到了。“



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