Lukoil drops FAR offer, Woodside in pole position
Lukoil has pulled its non-binding bid for FAR, clearing the way for Woodside Energy to increase its stake in the Sangomar project.
Sangomar
Lukoil throws hat into FAR ring
Russia’s Lukoil has emerged as another suitor to buy MSGBC Basin-focused FAR, for A$220 million ($170mn).
Senegal sees 2023 start for BP-backed LNG project
The Grand Tortue Ahmeyim gas field development, straddling the offshore waters of Mauritania and Senegal, is expected to produce its first gas in 2023 following delays related to the coronavirus pandemic, according to Senegal’s Oil Minister Sophie Gladima.
FAR receives takeover offer, threatens Senegal sale
FAR has received a non-binding proposal for its potential acquisition by Remus Horizons PCC that may derail its Senegal sale.
Modec orders compressor trains, water system for Sangomar
Modec has ordered six compressor trains from MAN Energy Solutions for the Sangomar field, offshore Senegal.
A tough year down for Africa
As with the global industry, African exploration and production plans hit the COVID-19 and oil price-crash roadblock.
Woodside pre-empts FAR sale to ONGC
Woodside Energy has opted to pre-empt the sale of FAR’s stake in a licence offshore Senegal, which will increase the buyer’s stake to 82% in the Sangomar field.
PetroNor lines up Guinea Bissau move
PetroNor E&P has struck a deal to acquire Svenska Petroleum’s assets in Guinea Bissau, with the hope of drilling in 2021-22.
FAR strikes bittersweet Sangomar sale with ONGC
Australia’s FAR Ltd has struck a deal to sell its Senegal interests to India’s ONGC for $45 million plus some costs.
Cairn clears Woodside for Senegal sale
Cairn Energy has abandoned plans to sell its stake offshore Senegal to Lukoil, abiding by Woodside Energy’s pre-emption.
Clock running down for FAR in Senegal
Australia’s FAR did not exercise its right to pre-empt the sale of Cairn Energy’s stake in the Sangomar field, as the company works to find a buyer for its own interest.
Woodside to take Cairn Sangomar stake from under Lukoil’s nose
Australian firm Woodside has moved to whisk the purchase of Cairn Energy’s 40% stake in the Sangomar project off Senegal out from under the nose of Russian firm Lukoil.
Cairn sells Sangomar stake to Lukoil
Russia’s independent Lukoil has struck a deal to pay $300 million to Cairn Energy for a 40% stake in a licence offshore Senegal.
Floating production system market set for quick rebound, Westwood Global says
The floating production systems (FPS) market will rebound to $13 billion annually from 2021-24 with an average oil price of $60 per barrel, analysts have said.
No more FPSO orders in 2020
No more floating production, storage and offloading (FPSO) vessels will be ordered this year, Rystad Energy has predicted.
FAR slips into default at Sangomar
Australia’s FAR is in default for its payments due on the Sangomar field, following recent talk of delays in Senegal’s upstream plans.
Woodside defiant on Sangomar schedule
Woodside Petroleum has denied that first oil from the Sangomar field will be delayed because of the coronavirus pandemic.
China eyes African opportunities
Amidst the oil price crash crisis and the pressure on companies, opportunities are emerging for those with resources.
FAR hoists “for sale” sign on Sangomar
Australia’s FAR has been unable to secure financing for its stake in the Sangomar field development and so has begun a process to sell all, or a part, of its stake in the Senegalese project.
Africa to feel squeeze as plans about to change
The double threat of coronavirus and the price crash has forced oil companies around the world to rearrange plans and save money where possible, and Africa is set to feel the squeeze.
Despite Woodside cuts, Sangomar continues
Woodside Petroleum has slashed its spending this year by 50%, to around $2.4 billion, but Senegal’s Sangomar development should progress as planned.
FAR under strain with Sangomar financing
Australia’s FAR has temporarily suspended plans for drilling offshore The Gambia, in response to the coronavirus pandemic, while the oil price crash has made talks on securing debt for Senegal’s Sangomar development harder.
Senegal licence round goes live
Petrosen has officially launched its first offshore licence round, at a conference in Senegal, covering 12 blocks.
Glencore lines up to take FAR’s Sangomar crude
Australia’s FAR has signed a deal to allocate its share of crude from Senegal’s Sangomar field to Glencore Energy.
Woodside pulls trigger to start work on Senegal’s Sangomar
Australia’s Woodside Energy has approved the 100,000 barrel per day Sangomar project, offshore Senegal, launching agreements with suppliers and putting the field on course to begin production in 2023.