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.africabusinessplus.com/en/807874/senegal-400-million-slippage-on-woodsides-sangomar-project/
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.
This article is for subscribers only. To read more, subscribe with a special offer.
You are connected to your Jeune Afrique account but your Africa Business+ subscription does not allow you to consult the English version. To update your subscription, contact us by clicking here.
Recommended articles
Mines
06/09/2021 at 17h11, by Africa Business+, updated 07/09/2021
Far Ltd to give shareholders an AUS$80m bonus and exit from Guinea-Bissau
The Australian oil company, long mired in disputes over its interests in the Senegalese offshore, is...
Insurance
20/01/2020 at 12h13, by Africa 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 Africa Business+ team if you require any further information.
Email us : customer.care@africabusinessplus.com
Add AB+ to your home screen
1. Click on 
at the bottom of your screen.
2. Click on 
to add AB+ on the home screen.
3. Enter the name of the shortcut and confirm.