{"id":8923,"date":"2020-08-20T08:25:20","date_gmt":"2020-08-20T08:25:20","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=8923"},"modified":"2020-08-20T08:25:20","modified_gmt":"2020-08-20T08:25:20","slug":"senegal-petrosen-increases-stake-in-sangomar-project","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/senegal-petrosen-increases-stake-in-sangomar-project\/","title":{"rendered":"SENEGAL: Petrosen Increases Stake in Sangomar Project"},"content":{"rendered":"

 <\/p>\n

ASX listed FAR Ltd\u00a0 subsidiary FAR Senegal RSSD SA and its Sangomar RSSD has reported that the joint venture partners have executed documentation confirming State oil company Petrosen\u2019s decision to increase its stake in the Sangomar Exploitation Area from 10% to 18%.<\/p>\n

This has affected the stake of the other partners with FAR\u2019s stake in the Sangomar Exploitation Area decreasing from 15% to 13.67%.<\/p>\n

FAR adds it has captured the impact of this expected action by Petrosen in economic modelling of the project in its earlier announcements to the market.<\/p>\n

Petrosen is now required to reimburse the other RSSD venturers their pro-rata share of the 8% of expenses relating to the Sangomar Exploitation Area incurred since 8 January 2020. As at the end of June 2020, the share due to FAR is US$4.79m.<\/p>\n

FAR\u2019s Managing Director, Cath Norman said, \u201cFAR has long planned for Petrosen\u2019s interest accretion and it has been reflected in our modelling and communications. The FAR Board continues to pursue a sale of all or part of FAR\u2019s stake in lieu of an alternate financing option.\u201d<\/p>\n

Just this week Woodside exercised its right to pre-empt<\/a> on the same terms and conditions as the proposed sale of Cairn\u2019s interests in the Sangomar field offshore Senegal to Lukoil.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

  ASX listed FAR Ltd\u00a0 subsidiary FAR Senegal RSSD SA and its Sangomar RSSD has reported that the joint venture partners have executed documentation confirming State oil company Petrosen\u2019s decision … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":8409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11,7444],"tags":[378,867,4515,2025,7665,2283,2743],"class_list":["post-8923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","category-west-africa","tag-cairn","tag-far","tag-lukoil","tag-petrosen","tag-sangomar-field","tag-senegal","tag-woodside","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Sangomar.jpg?fit=672%2C311&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2jV","jetpack-related-posts":[{"id":8974,"url":"https:\/\/www.oilnewskenya.com\/index.php\/senegal-far-to-focus-on-rssd-assets-sale-turns-down-pre-emptive-right\/","url_meta":{"origin":8923,"position":0},"title":"SENEGAL: FAR to Focus on RSSD Assets Sale, Turns Down Pre-emptive Right","author":"","date":"August 27, 2020","format":false,"excerpt":"FAR has advised Cairn that FAR does not intend to pre-empt the transaction or object to the proposed transfer of Cairn\u2019s working interest in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore RSSD Contract Area to Lukoil. FAR says it was offered a preemptive right over the sale of\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Sangomar.jpg?fit=672%2C311&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Sangomar.jpg?fit=672%2C311&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Sangomar.jpg?fit=672%2C311&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8672,"url":"https:\/\/www.oilnewskenya.com\/index.php\/senegal-lukoil-acquires-cairn-energys-sangomar-project\/","url_meta":{"origin":8923,"position":1},"title":"SENEGAL: Lukoil Acquires Cairn Energy’s Sangomar Project","author":"","date":"July 27, 2020","format":false,"excerpt":"LUKOIL has concluded an agreement with Cairn Energy PLC to acquire a 40% interest in RSSD (Rufisque, Sangomar and Sangomar Deep) project in the Republic of Senegal for $300 mln in cash. The agreement also provides for potential bonus payment to Cairn Energy PLC of up to $100 mln after\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Sangomar.jpg?fit=672%2C311&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Sangomar.jpg?fit=672%2C311&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Sangomar.jpg?fit=672%2C311&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":10606,"url":"https:\/\/www.oilnewskenya.com\/index.php\/senegal-woodside-launches-sangomar-field-development-phase-1-drilling-campaign\/","url_meta":{"origin":8923,"position":2},"title":"SENEGAL: Woodside Launches Sangomar Field Development Phase 1 Drilling Campaign","author":"","date":"July 20, 2021","format":false,"excerpt":"Woodside Energy Senegal B.V. (Woodside) as operator of the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture, which includes Soci\u00e9t\u00e9 des P\u00e9troles du S\u00e9n\u00e9gal (PETROSEN), plans to begin the drilling campaign this week for the Sangomar Field Development Phase 1 offshore Senegal. Woodside Acting CEO Meg O\u2019Neill\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/sangomar-field.jpg?fit=600%2C599&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/sangomar-field.jpg?fit=600%2C599&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/sangomar-field.jpg?fit=600%2C599&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":9295,"url":"https:\/\/www.oilnewskenya.com\/index.php\/far-provides-quarterly-operations-update\/","url_meta":{"origin":8923,"position":3},"title":"FAR Provides Quarterly Operations Update","author":"","date":"October 21, 2020","format":false,"excerpt":"RSSD (Rufisque, Sangomar and Sangomar Deep) Senegal The Rufisque, Sangomar and Sangomar Deep (\u2018RSSD\u2019) Joint Venture continued to progress construction activities for the Sangomar Field Development. The construction of the FPSO and other equipment for the Phase 1 development is progressing within budget. Interpretation of the recent high-definition multiazimuth 3D\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/FAR.jpg?fit=500%2C500&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":14360,"url":"https:\/\/www.oilnewskenya.com\/index.php\/senegal-woodside-achieves-first-oil-at-sangomar\/","url_meta":{"origin":8923,"position":4},"title":"SENEGAL: Woodside achieves first oil at Sangomar","author":"","date":"June 12, 2024","format":false,"excerpt":"Woodside has achieved first oil from the Sangomar field offshore Senegal, marking the safe deliveryof the country\u2019s first offshore oil project. The Sangomar Field Development Phase 1 is a deepwater project including a stand-alone floatingproduction storage and offloading (FPSO) facility with a nameplate capacity of 100,000 barrels\/day,and subsea infrastructure that\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/Senegal-Sangomar.png?fit=742%2C417&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/Senegal-Sangomar.png?fit=742%2C417&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/Senegal-Sangomar.png?fit=742%2C417&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/Senegal-Sangomar.png?fit=742%2C417&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":9539,"url":"https:\/\/www.oilnewskenya.com\/index.php\/senegal-modec-awarded-operations-and-maintenance-contract-for-sangomar-field-development-fpso\/","url_meta":{"origin":8923,"position":5},"title":"SENEGAL: MODEC awarded Operations and Maintenance Contract for Sangomar Field Development FPSO","author":"","date":"December 14, 2020","format":false,"excerpt":"MODEC has announced that it has signed a contract with Woodside Energy\u00a0for the operations and maintenance of a Floating Production Storage and Offloading (FPSO) vessel for the Sangomar (formerly SNE) Field Development Phase 1 (Sangomar Field Development) project in the Sangomar Offshore and Sangomar Offshore Deep oil blocks, located offshore\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/sangomar-fpso.jpg?fit=1200%2C686&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/sangomar-fpso.jpg?fit=1200%2C686&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/sangomar-fpso.jpg?fit=1200%2C686&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/sangomar-fpso.jpg?fit=1200%2C686&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/sangomar-fpso.jpg?fit=1200%2C686&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=8923"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8923\/revisions"}],"predecessor-version":[{"id":8924,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8923\/revisions\/8924"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/8409"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=8923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=8923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=8923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}