Woodside completes buy of Cairn's Senegal stake

WOODSIDE Petroleum has completed its acquisition of Cairn Energy’s share of the offshore Senegal oil project Sangomar, after pre-empting the UK company’s sale of its 40% stake to Russia’s Lukoil in July. 

Woodside completes buy of Cairn's Senegal stake Woodside completes buy of Cairn's Senegal stake Woodside completes buy of Cairn's Senegal stake Woodside completes buy of Cairn's Senegal stake Woodside completes buy of Cairn's Senegal stake
The company paid US$300 million and a working capital adjustment of $225 million which includes payback of what Cairn has spent on cash calls since sanction in January this year.