Woodside to take Cairn Senegal stake

WOODSIDE Petroleum has preempted Cairn Energy’s sale of its 40% share of the offshore Senegal oil project Sangomar to Russia’s Lukoil  and will take the share for itself for a price of US$300 million.

Woodside to take Cairn Senegal stake Woodside to take Cairn Senegal stake Woodside to take Cairn Senegal stake Woodside to take Cairn Senegal stake Woodside to take Cairn Senegal stake

Woodside CEO Peter Coleman

 
 
It will also reimburse Cairn for its capital spend since January 1 of around $330 million, as per its earlier agreement with Lukoil, as well as a payment of up to $100 million linked to