Woodside consolidates Sangomar ownership
The Australian producer has upped its stake in the Senegal oil development in two deals, but plans to shed some of that equity this year
Senegal’s offshore Sangomar oil project “remains on track for targeted first oil in 2023”, according to Australian independent Woodside, the operator and majority shareholder. The ASX-listed firm recently increased its stake in the 100,000bl/d scheme by purchasing the interest of UK-headquarted Cairn Energy, and is also poised to acquire the portion belonging to another Australian company, FAR. Woodside confirms that subsea activities remain on schedule and that drilling is due to begin in mid-2021. This year will also see work start in Dalian, China, on the conversion of a very-large crude carrier into a floating production, storage and offloading (FPSO) unit for delivery to the Sangomar de
Also in this section
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them