FAR approves interest transfer with Svenska and CNOOC in West Africa

FAR Limited has approved a request for transfer of interest from Svenska Petroleum Exploration of a 55.55% participating interest in the highly prospective Sinapa and Esperanca petroleum licences in the offshore Guinea-Bissau to CNOOC.

FAR approves interest transfer with Svenska and CNOOC in West Africa FAR approves interest transfer with Svenska and CNOOC in West Africa FAR approves interest transfer with Svenska and CNOOC in West Africa FAR approves interest transfer with Svenska and CNOOC in West Africa FAR approves interest transfer with Svenska and CNOOC in West Africa

Transaction to close third quarter of 2019

 
FAR will retain 21.42% participating interest in each of the licences. 
 
Under the terms of the farm-out agreement, CNOOC will be assigned a 55.

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