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