Far Completes Sale of Senegal RSSD Project to Woodside

Source Press Release
Company FAR LimitedWoodside Petroleum Limited 
Tags Asset Deals, Deals, Upstream Activities
Date July 07, 2021

FAR Limited (ASX:FAR) announces the completion of the sale of its entire interest in the Senegal RSSD joint venture to Woodside Energy (Senegal) BV.

In line with guidance given at the FAR Annual General Meeting, and as a result of completion, FAR has received US$126 million from Woodside. Additional payments to FAR, up to US$55 million, are contingent on future oil price and timing of first oil, targeted for 2023.

As reported in our announcement dated 12 May 2021, now that the sale of FAR’s interest in the Senegal RSSD joint venture has completed, FAR can commence discussions with ASX on reinstating FAR’s securities and will provide an update to the market within the next seven days.

Source: EvaluateEnergy® ©2021 EvaluateEnergy Ltd