FAR casts shadow over Woodside Senegal FPSO buy

摘要

A minority partner in Cairn Energy's planned FPSO project has thrown a spanner in the works over a stake sale to Wood-side just ahead of a planned exploration and appraisal drilling programme. Earlier this year Woodside agreed to buy ConocoPhillips' 35% interest in the Sangomar Offshore block (which contains the 640m bbl SNE discovery) for US $440m. At the time partner FAR, which holds 15%, said it was looking at the implications of the deal and that it had a right of pre-emption and that the US firm had failed to comply with the terms in the joint operating agreement.