Senegal: $400 million slippage on Woodside’s Sangomar project

Senegal: $400 million slippage on Woodside’s Sangomar project

As it prepared to acquire shares in Far Limited, the Australian group Woodside saw the cost of the Sangomar offshore project jump by 10%. It is looking to sell more than 40% of the project due to start production in 2023.

Someone shares this article with you
            ▪ Senegal: $400 million slippage on Woodside’s Sangomar project

▪ As it prepared to acquire shares in Far Limited, the Australian group Woodside saw the cost of the Sangomar offshore project jump by 10%. It is looking to sell more than 40% of the project due to start production in 2023.

https://www.jeuneafriquebusinessplus.com/en/807874/senegal-400-million-slippage-on-woodsides-sangomar-project/

13/05/2021 at 17h05, by Jeune Afrique Business+, updated 14/05/2021

Woodside, the operator and principal shareholder of the Sangomar offshore oil project in Senegal, has reassessed the overall costs, taking into account inflation. The Australian group informed its shareholders that the bill now stands at $4.6 billion, against a previously estimated price of $4.2 billion. The 10% increase was due to market conditions for petroleum equipment and services following a review carried out at the start of the year.

To read the article and discover your subscription benefits

You are connected to your Jeune Afrique account but your Jeune Afrique Business+ subscription does not allow you to consult the English version. To update your subscription, contact us by clicking here.

Recommended articles

Insurance

20/01/2020 at 12h13, by Jeune Afrique Business+, updated 21/01/2020

Sangomar/Woodside: Senegalese insurance pool coverage takes effect ($13 million)

Grouped together in an unprecedented joint structure, Senegalese insurers collect $13m in premiums reinsured...

Oil & Gas

16/12/2019 at 16h12, by Pierre-Olivier Rouaud, updated 17/12/2019

Imminent arbitration against Woodside unlikely to affect FAR’s fundraising for Sangomar

Listed on the Sydney stock exchange, the junior oil company will raise more than half a billion dollars...

Any questions ? contact us

Please get in touch with the Jeune Afrique Business+ team if you require any further information.

Email us : abonnements@jeuneafriquebusinessplus.com

Add JAB+ to your home screen

1. Click on + at the bottom of your screen.

2. Click on + to add JAB+ on the home screen.

3. Enter the name of the shortcut and confirm.