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Senegal

FAR gives update on sales of RSSD project offshore Senegal

FAR Limited has advised 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 […]

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Senegal: Sangomar Field development remains on track for first oil in 2023

FAR has announced it had executed a sale and purchase agreement with ONGC Videsh Vankorneft Pte Ltd for FAR’s entire interest in the Rufisque, Sangomar and Sangomar Deep project. RSSD operator Woodside subsequently exercised its right to pre-empt the sale on the same terms and conditions, and in January 2021 Woodside and FAR executed a […]

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FAR: Remus RSSD Takeover Offer Not Feasible

FAR has announced that with reference to the attached letter dated 14 April 2021 which was received from Remus Horizons PCC Limited as requested by it advising its intention to make a takeover offer for FAR shares at 2.1 cents per share.  According to the letter, Remus has stated it was proceeding to finalise its […]

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FAR: REMUS TAKEOVER RSSD PROJECT OFFER IN SENEGAL

FAR Limited has received notice from Remus Horizons PCC Limited advising its intention to make a takeover offer for FAR shares at 2.1 cents per share. The Remus Offer is conditional only upon FAR and/or its subsidiaries not proceeding with the proposal to sell the Rufisque, Sangomar and Sangomar Deep  (RSSD) Project to Woodside and […]

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Lukoil Proposal to acquire FAR interest in Senegal RSSD project in not yet feasible

FAR Limited refers to previous announcements, including its 17 February 2021 announcement that it had received a conditional non-binding indicative proposal from PJSC Lukoil to acquire the shares of FAR at 2.2c cash per share (Lukoil Proposal).  FAR had cautioned that the Lukoil Proposal was not a legally binding offer, was subject to targeted and […]

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Lukoil Proposed Interest for Total Acquisition of FAR

FAR Limited has said that it has received a conditional non-binding indicative proposal from PJSC Lukoil, one of the world’s largest publicly traded energy companies, to acquire 100% of the shares of FAR at A2.2c cash per share. Lukoil is headquartered in Russia. The Lukoil Proposal values FAR at A$220 million. FAR cautions that the […]

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FAR signs RSSD Project sale contract with Woodside

FAR Limited has previously advised that Woodside Energy (Senegal) B.V. exercised its pre-emptive right to acquire FAR’s interest in the Senegal RSSD Project. On 19 January 2021 the FAR group executed a Sale and Purchase Agreement with Woodside in relation to the sale. The agreement with Woodside is on the same terms and conditions as […]

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Survivex wins technology-led training contract for BP’s Tortue Ahmeyim project offshore Senegal

Survivex has started working on a contract with BP to develop and deliver a bespoke four-week training programme for the operational personnel on the Greater Tortue Ahmeyim development project. The contract will see Survivex, which is part of the 3t Energy Group, train BP personnel in safety-critical operating procedures and processes for its floating production storage […]

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Senegal Grand Tortue Ahmeyim gas field Expects first gas in 2023

The Grand Tortue Ahmeyim gas field development, straddling the offshore waters of Mauritania and Senegal, is expected to produce its first gas in 2023 following delays related to the coronavirus pandemic, according to Senegal’s Oil Minister Sophie Gladima. “The two countries and international oil companies BP Plc and Kosmos Energy Ltd. are collaborating on the […]

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Senegal Extends 2020 Licence Round

The Senegal Ministry of Petroleum and Energy has announced an extension to the deadline for submission of applications until 17:00 (GMT) on Sunday 30th may 2021.The Licensing Round is the second international competitive bidding round arranged by the Ministry of Petroleum and Energy in Senegal. There has been a significant increase in oil and gas […]

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