Woodside Petroleum (ASX:WPL) completes Sangomar purchase from Cairn
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Woodside Petroleum (WPL) has completed its purchase of Capricorn Senegal's (Cairn) interest in the Sangomar joint venture development in Senegal
The energy giant bought the interest for US$300 million (around A$396 million) plus a working capital expenditure of US$225 (around A$297 million)
Woodside now holds just over 68 per cent in the Sangomar exploitation area, however, this could increase to 82 per cent if Woodside buys fellow ASX-lister, Far's (FAR) interest
The purchase of an additional interest is expected to be finalised in the first quarter of 2021