Woodside has moved to acquire a majority stake in its Sangomar joint venture, paying $428 million to obtain UK-based explorer Cairn Energy's interest in the project.
Woodside Petroleum has won a long-running contractual dispute with Melbourne-based explorer FAR over its purchase of a stake in the Sangomar oil project, off the coast of Senegal.
Woodside Petroleum is set to begin drilling for oil off the coast of Senegal, executing key contracts to begin the first phase of its $US4.2 billion ($6 billion) Sangomar project.
The West African nation of Senegal has authorised its first oil development, the $US4.2 billion Sangomar offshore oil project, operator Woodside Petroleum has announced.
Woodside Petroleum has laid out plans to triple its gas and oil reserve base which will come from more than $US36 billion worth of projects in Australia, Senegal and Myanmar over the next seven years.
Six months after shutting down specialist oil and gas advisory firm Miro Advisers, Tim Woodall has joined the board of Melbourne-based explorer and producer FAR as a non-executive director.
Woodside Petroleum says its joint venture partner at the SNE oilfield offshore Senegal, FAR, has declined to support a transition for the energy giant to eventually take over as operator of the operation.
Energy giant Woodside Petroleum says it has completed its $US440 million purchase of ConocoPhillips' stake in an oilfield off the coast of Senegal, despite leaving a contractual dispute with one of the project's partners unresolved.
Costs would need to come down a further 25 per cent to breakeven at around $US40 per barrel of oil for the Browse LNG project to proceed, according to Woodside Petroleum managing director Peter Coleman.
