Offshore staff
MELBOURNE, Australia – Lukoil has submitted an offer for Australian E&P independent FAR which values the company at A$220 million ($170 million).
Recently, FAR agreed to sell its stake in the RSSD project off Senegal, including the deepwater Sangomar field development, to operator Woodside Energy.
FAR cautioned its shareholders that Lukoil’s proposal is not a legally binding offer, and is subject to due diligence on FAR and on approval from the Lukoil board.
The company added that Lukoil is open to providing financial support that would allow FAR to emerge from default in relation to its commitments to the RSSD project.
FAR’s other nearby West African assets are operatorship of offshore blocks A2 and A5, and an interest in the Sinapa and Esperanca permits in the Casamance salt sub-basin offshore Guinea-Bissau, operated by Svenska Petroleum.
It also operates the A-458_P permit in Dampier sub-basin offshore Western Australia.
02/17/2021
