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Woodside buys ConocoPhillips' deepwater stakes off Senegal
US$430m deal may speed up development of a billion barrel resource that is set to start producing in next 5 years
Add BT as a preferred sourcePublished Thu, Jul 14, 2016 · 09:50 PM
Melbourne
AUSTRALIA'S Woodside Petroleum is expanding its push into West Africa, agreeing to buy ConocoPhillips' deepwater stakes off Senegal, including one of the world's most promising recent oil finds, for up to US$430 million.
The move brings a deepwater expert into the SNE field off Senegal and removes uncertainty over its ownership, which may help speed up development of a billion barrel resource that is expected to start producing within the next five years.
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