Senegal: $400 million slippage on Woodside’s Sangomar project
As it prepared to acquire shares in Far Limited, the Australian group Woodside saw the cost of the Sangomar offshore project jump by 10%. It is looking to sell more than 40% of the project due to start production in 2023.
13/05/2021 at 17h05, by Africa Business+
Woodside, the operator and principal shareholder of the Sangomar offshore oil project in Senegal, has reassessed the overall costs, taking into account inflation. The Australian group informed its shareholders that the bill now stands at $4.6 billion, against a previously estimated price of $4.2 billion. The 10% increase was due to market conditions for petroleum equipment and services following a review carried out at the start of the year.
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