Woodside Buys ConocoPhillips’s Senegal interests

Woodside completed the transaction to buy 100% of the shares in ConocoPhillips Senegal B.V.

The total purchase price was US$350 million plus net customary adjustments of approximately US$90 million.

Woodside CEO Peter Coleman said the acquisition was an exciting addition to Woodside’s global growth portfolio.

“We look forward to working with the Government of Senegal and joint venture participants Cairn Energy, FAR Limited, and Petrosen, the Senegal National Oil Company, to progress the commercial development of the SNE and FAN discoveries.

“Woodside will bring to the joint venture expertise in deep water drilling, development and operation of subsea infrastructure and floating production storage and offloading vessels.

“We acknowledge the work of ConocoPhillips in closing this deal,” he said.

The transaction includes a 35% working interest in three offshore exploration blocks, which contain the SNE and FAN deep water oil discoveries.