(Adds Sangomar project background, arbitration details)
Jan 22 (Reuters) - FAR Ltd (FAR) said on Wednesday it signed a binding agreement with Glencore Plc GLEN.L to market the Australian company's share of crude oil from the $4.2 billion Sangomar project in Senegal.
The Africa-focused oil explorer will let Glencore market a minimum of 20 million barrels of oil for seven years.
It follows FAR lining up funding of $300 million for the development of its interest in the Sangomar field from parties that included Glencore.
FAR also said the International Chamber of Commerce had approved the draft award in its long-running dispute with Woodside Petroleum (WPL) over the right to pre-empt the sale of ConocoPhillips' COP.N stake in their joint venture to Woodside.
Melbourne-based FAR holds a minority share in the joint venture that owns the project, which is operated by Woodside. The JV also includes Cairn Energy Plc CNE.L and Senegal's state-owned Petrosen.
(Adds Sangomar project background, arbitration details) Jan 22...
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add FAR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
50.0¢ |
Change
0.005(1.01%) |
Mkt cap ! $46.20M | |||
| Open | High | Low | Value | Volume |
| 50.0¢ | 50.5¢ | 50.0¢ | $12.37K | 24.61K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 19418 | 50.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 51.0¢ | 129688 | 3 |
View Market Depth
| Last trade - 15.44pm 31/07/2024 (20 minute delay) ? |
| FAR (ASX) Chart |