Oil and gas producer Woodside has struck a binding sale and purchase agreement to acquire joint venture partner Capricorn Senegal’s entire participating interest in the Sangomar offshore and Sangomar deep offshore (RSSD) project, in Senegal.
The binding transaction followed Woodside’s exercise of its pre-emptive rights, after Capricorn in July struck a deal with Russian producer LukOil to divest of its 40% interest in the RSSD project for a cash consideration of up to $400-million, plus the reimbursement of development capital expenditure incurred since January 2020.