{"id":387657,"date":"2020-12-04T08:42:07","date_gmt":"2020-12-04T03:12:07","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=387657"},"modified":"2020-12-04T09:26:31","modified_gmt":"2020-12-04T03:56:31","slug":"woodside-petroleum-matches-ongc-unit-offer-to-buy-fars-sangomar-stake","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/woodside-petroleum-matches-ongc-unit-offer-to-buy-fars-sangomar-stake\/","title":{"rendered":"Woodside Petroleum matches ONGC unit offer to buy FAR&#8217;s Sangomar stake"},"content":{"rendered":"<p>Australia&#8217;s Woodside Petroleum Ltd said on Thursday it had exercised its right to match an offer by a unit of India&#8217;s cru Videsh Ltd to buy FAR Ltd&#8217;s stake in the Sangomar oil project in Senegal. <\/p>\n<p>FAR had said last month it would exit the troubled $4.2 billion Sangomar project off Senegal by selling its 15% stake to the ONGC unit for $45 million. <\/p>\n<p>&#8220;The acquisition is value-accretive for Woodside shareholders and results in a streamlined joint venture which will assist in our targeted sell-down in 2021,&#8221; Woodside Chief Executive Officer Peter Coleman said in a statement. <\/p>\n<p>Woodside said its offer would include $45 million payment and reimbursement of FAR&#8217;s share of working capital from Jan. 1 to completion, similar to the deal between FAR and ONGC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australia&#8217;s Woodside Petroleum Ltd said on Thursday it had exercised its right to match an offer by a unit of India&#8217;s cru Videsh Ltd to buy FAR Ltd&#8217;s stake in the Sangomar oil project in Senegal. FAR had said last month it would exit the troubled $4.2 billion Sangomar project off Senegal by selling its 15% stake to the ONGC unit for $45 million. &#8220;The acquisition is value-accretive for Woodside shareholders and results in a streamlined joint venture which will assist in our targeted sell-down in 2021,&#8221; Woodside Chief Executive Officer Peter Coleman said in a statement. Woodside said its [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-387657","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/387657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=387657"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/387657\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=387657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=387657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=387657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}