Woodside hits back in Senegal dispute

Senegal

PERTH, June 21, 2017 – Woodside Petroleum on Wednesday responded to fellow Australian company Far’s arbitration request in relation to stakes in blocks off Senegal, calling the latter’s claim baseless.

The rebuke was issued following Far’s request on Tuesday for arbitration proceedings to the International Chamber of Commerce “regarding FAR’s right to pre-empt the sale of ConocoPhillips’ interest in the Rufisque, Sangomar and Sangomar Deep [RSSD] Joint Venture offshore Senegal.”

In a reaction, Woodside said it did not believe “that Far’s claim has any merit.” It added that Senegal’s Ministry of Energy and the Development of Renewable Energy had issued a ministerial order “which provides further confirmation of Woodside’s participation in the joint venture.

Woodside acquired a 35% share in the RSSD assets from ConocoPhillips in 2016. As part of the arrangement, the company was to assume operatorship later in 2017, something which 15% stakeholder Far objects to.