Thanks to Johnnie (ex HC) for this link. there are now more bits...

Thanks to Johnnie (ex HC) for this link. there are now more bits and pieces of articles talking about the possibility of WPL being dethroned. Just a bit more encouraging.
WPL at the Risk of Ouster from Senegal Project; IVZ Inches Up Cabora Bassa Resources

By
Team Kalkine
-
July 1, 2019


The business diversification of Woodside Petroleum Limited (ASX: WPL) through an oil project in Senegal, West Africa, is now shackled as the project funding is hampered by an arbitration proceedings initiated by JV partner- FAR Limited (ASX: FAR), which in turn, could mark a dethronement of the Australian oil mammoth from the venture.
The Senegal Business:
WPL decided to launch a pilot for a new method of contracting for goods and services in Senegal, which marked a ground-breaking procurement initiative, and the company launched a tender opportunity through a procurement portal called African Partner Pool (APP).
The Partner Pool was operated by a, not for profit organisation- Invest in Africa (IIA), which aimed to help the small and medium African enterprises to engage in the oil and gas industry.
The IIA’s establishment in Senegal provided WPL with an opportunity to enhance the local content opportunities for the SNE Field, which positioned to become the first offshore oil development. WPL holds 35 per cent interest in the project which targeted first oil production in 2022.
Senegal JV Controlling Interest:
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WPL holds 35 per cent of the Joint Venture and is the operator of the SNE Fields, while Carin Energy Senegal holds 40 per cent of the Joint Venture. The other partners include ASX-listed FAR Limited (ASX: FAR) and Petrosen, with 15 per cent and 10 per cent interest in the project, respectively.

Source: WPL Website
WPL and FAR Dispute:
WPL Acquires ConocoPhillips Interest:
In 2016, WPL entered into a binding and Sale Agreement with ConocoPhillips to acquire all the interest of ConocoPhillips in Senegal at a price consideration of US$350 million along with a completion adjustment of approx. US$80 million (US$430 million).
Under the terms, WPL acquired 100 per cent of the shares in ConocoPhillips Senegal B.V. which holds a 35 per cent interest working interest in the three offshore exploration blocks namely Rufisque Offshore, Sangomar Offshore, and Sangomar Deep Offshore, and is the wholly-owned subsidiary of New York Stock Exchange-listed ConocoPhillips.
ConocoPhillips controlled the 35 per cent working interest in these three offshores through a Production Sharing Contract with the Government of Senegal, and the contract included the SNE and FAN deep water oil discoveries.
The Dispute:
Post the acquisition of the working interest; FAR Limited mentioned that it does not support the arrangements for WPL to undertake the development works as Development Lead of the SNE Field.
FAR mentioned that the transfer of an interest in the three offshore blocks, namely Rufisque Offshore, Sangomar Offshore, and Sangomar Deep Offshore, is not approved by the Government of Senegal and FAR also claimed that the company was not provided with the proper pre-emption rights.
Post Dispute:
In June 2017, WPL received the Ministerial Order from the Republic of Senegal’s of Energy and the Development of Renewable Energy, which further confirmed WPL’s participation in the three offshore blocks.
However, FAR requested the International Chamber of Commerce to initiate an arbitration proceeding concerning the asserted right to pre-empt the sale of ConocoPhillips’ interest in the JV to Woodside.
The Status Quo:
In the status quo, the opaqueness over who controls the interest is making it difficult to finance the project, and the first stage of the arbitration process starts on 8th July 2019 in Paris.
If WPL, losses the proceedings against FAR, it could dethrone WPL from being the Development Lead, which in turn, could further mark an ouster of the Australian major from the Senegal Joint Venture.
The shares of the company closed at A$36.560 on ASX today, up by 0.55 per cent as compared to its previous close.