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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

The FPSO will be deployed at the Sangomar field located approximately 100 kilometers south of Dakar, Senegal. The Sangomar Field Development is expected to be Senegal’s first offshore oil development. Scheduled for delivery in 2023, the FPSO vessel will be permanently moored at a water depth of approximately 780 meters by an External Turret mooring […]

Woodside Energy (Senegal) B.V has exercised its pre-emptive right to acquire FAR’s interest in the Senegal RSSD Project. Such pre-emption is on the same terms and conditions as the proposed sale to ONGC Videsh Vankoreft Pte Ltd (“ONGC”) announced on 11 November 2020. FAR shareholders are due to consider authorising a sale of the Senegal […]

FAR has announced that together with its wholly owned subsidiaries FAR Senegal RSSD SA and FAR Holdings 1 Pty Ltd it has entered into an RSSD Sale and Purchase Agreement with ONGC Videsh Vankorneft Pte Ltd in respect of FAR’s entire interest in the Production Sharing Contract for the Rufisque, Sangomar, and Sangomar Deep Offshore […]