Sangomar Field progress for FAR (ASX:FAR)

Company News

by Katrina Bullock

The Sangomar Field Development Phase 1 has entered the execute phase of activities.

The key contractors for the development are MODEC, Inc., Subsea Integration Alliance and Diamond Offshore.

The joint venture has received regulatory approval to proceed, including the signing of the Host Government Agreement with the Government of Senegal.

Woodside CEO Peter Coleman says "the Sangomar Development is a major pillar of Woodside’s growth strategy with substantial upside from potential future phases".

Shares in FAR (ASX:FAR) closed 2.3 per cent lower at $0.04 on Friday.

Katrina Bullock

Finance News Network
Katrina joined FNN in 2018. She holds a Bachelor of Laws (Honours first class), a Bachelor of Business (Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She previously worked as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel for Greenpeace Australia Pacific.