Oil and gas developer Cairn Energy has struck a deal with Russian producer LukOil to divest of its 40% interest in the Rufisque offshore, Sangomar offshore and Sangomar deep offshore (RSSD) contract area, offshore Senegal, for a cash consideration of up to $400-million plus the reimbursement of development capital expenditure incurred since January 2020.
The transaction will be subject to Senegalese government consent, as well as joint venture (JV) partners agreeing to the sale.