Senegal: FAR arbitration


Issue 410 - 27 Feb 2020 | 1 minute read

The International Court of Arbitration of the International Chamber of Commerce has found in favour of Woodside Energy in a claim brought by FAR Limited. The tribunal declared that FAR did not have a pre-emption right over Woodside’s 2016 transaction to enter the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture. Far had challenged Woodside’s $430m purchase of a 35% stake in the RSSD joint venture from ConocoPhillips in 2016, claiming its pre-emptive right was ignored, but the tribunal ruled that the joint operating agreement did not grant pre-emption rights over a transaction involving a sale of shares in one of the member companies.

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