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Sunday, October 30, 2016
Woodside Energy has officially joined the JV that will develop natural gas resources offshore Senegal. The Australian firm’s entry into the Cairn Energy operated acreage follows its purchase of US-based ConocoPhillips’s Senegalese unit, ConocoPhillips BV, for $350 million.
While JV partner and fellow Australian firm FAR Ltd. tried to put the kibosh on the deal, claiming that ConocoPhillips breached the JOA between the partners, the dealstill moved forward.
Woodside CEO Peter Coleman confirmed the deal in a statement on the company’s website that said Woodside would be working with partners to commercialize the promising SNE and FAN deep-water oil discoveries off the coast of Senegal.
“We look forward to working with the Government of Senegal and joint venture participants Cairn Energy, FAR Limited, and Petrosen, the Senegal National Oil Company, to progress the commercial development of the SNE and FAN discoveries,” Coleman said.
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