Update on Far RSSD Project Sale

Source Press Release
Company FAR LimitedONGC Videsh LimitedWoodside Petroleum Limited 
Tags Asset Deals, Deals, Upstream Activities
Date May 31, 2021

FAR Limited (ASX:FAR) advises that it has satisfied the condition precedent for the sale of its interest in the RSSD project to a member of the Woodside group relating to the termination of a third-party contract.

FAR also advises that it has received formal notification from the Senegalese Minister of Petroleum and Energies that it approves the transfer of FAR’s RSSD interest to Woodside.

Accordingly, FAR and Woodside are moving towards attending to the various outstanding completion related matters with completion targeted for the coming weeks.

FAR will keep the market updated in relation to any material developments in this regard.

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