KEYFACT Energy
FAR Limited today announced completion of the sale of its entire interest in the Senegal RSSD joint venture to Woodside Energy (Senegal) BV.
Map source: KeyFacts Energy
In line with guidance given at the FAR Annual General Meeting, and as a result of completion, FAR has received US$126 million from Woodside. Additional payments to FAR, up to US$55 million, are contingent on future oil price and timing of first oil, targeted for 2023.
As reported in our announcement dated 12 May 2021, now that the sale of FAR’s interest in the Senegal RSSD joint venture has completed, FAR can commence discussions with ASX on reinstating FAR’s securities and will provide an update to the market within the next seven days.
KeyFacts Energy: Woodside Senegal country profile l KeyFacts Energy: Acquisitions & Mergers news