Woodside to buy Cairn’s offshore Senegal interests

Offshore staff

PERTH, Australia – Woodside Energy (Senegal) B.V. has entered into a binding sale and purchase agreement to acquire Capricorn Senegal Ltd.’s entire participating interest in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture.

This follows Woodside’s exercise of its pre-emptive rights on Aug. 17, 2020.

Completion of the acquisition is subject to the government of Senegal approval, Cairn Energy PLC shareholder approval, and other customary conditions precedent. It is targeted for 4Q 2020.

Following completion, Woodside’s equity interest will increase to about 68.33% in the Sangomar exploitation area and to 75% for the remaining RSSD evaluation area. Woodside will remain the operator.

09/07/2020