Hi Cosmoterious
The government of Senegal may not be the mediator or arbitrator of the JOA as you say, but I would not be surprised if the front page of the JOA has three "Approved By" boxes to accomodate the sign off by the JV partners with a "Final Approval" box to accomodate Final sign off by the government body representing the government of Senegal. An equivalent body to Australias NOPSA.
All JV partners plus the government will be fully aware of why FAR are demanding there right to PE.
Senegal have said they want this kept low key and resolved amicably in other words they do not want this to go to arbitration but realise FAR have a case and As a last resort if necessary they will take it to arbitration.
There comes a point in time when all else has failed the only alternative is to open up the legal resolution process.
FAR will take this to arbitration with or without approval by Senegal IMO and by so doing this will then let COP off the hook regarding any possible damages claim from WPL.
This is not costing FAR a brass razoo and the longer it goes on the more the advantage swings in FAR's favour.
Forget about PE it's not number one priority IMO.
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