FAR challenges ConocoPhillips stake sale
Issue 330
- 16 Sep 2016
| 1 minute read
Australia’s FAR has challenged ConocoPhillips’ sale of its Senegal assets to Woodside Petroleum, but has not yet made its own intentions clear. FAR said on 23 August that there should be a pre-emption period for the sale, but Woodside argues this does not apply because it is buying a ConocoPhillips subsidiary, rather than buying the assets directly. FAR also announced an increase in contingent recoverable oil reserves to 641m barrels, from a new estimate including results from the BEL-1 and SNE-4 wells.
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