Woodside says FAR Ltd blocks development works

Company News

by Jessica Amir

Woodside Petroleum Limited (ASX:WPL) has advised that FAR Limited will not support it in undertaking development works as Development Lead, at the SNE oil field, in offshore Senegal in West Africa.

The oil and gas producer previously announced it was transitioning to Development Lead, as right of passage for it to assume Operatorship.

However, FAR says the Senegalese Government did not approval the transfer of the interest in four offshore blocks, at the site. FAR also says it was not provided with proper pre-empting rights.

Woodside says FAR’s actions have no merit as Woodside has complied the Senegalese law.

The firm says, the actions by the company, FAR, are also at risk of negatively impacting the development schedule of the SNE Oil field.

Shares in Woodside Petroleum Limited (ASX:WPL) are trading 1.74 per cent lower $30.97.
 

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