Woodside weighs blocking Russia's Lukoil from joining Senegal oil project


MELBOURNE, July 28 (Reuters) - Australia's Woodside Petroleum WPL.AX is considering whether to block Lukoil LKOH.MM from becoming a partner in the $4.2 billion Sangomar oil project off Senegal, after the Russian firm agreed to buy Cairn Energy's Senegal assets.

Woodside, 35% owner and operator of the Sangomar project, has a right to match Lukoil's $400 million offer for Cairn's CNE.L 40% stake in the Rufisque, Sangomar and Sangomar Deep (RSSD) contract area.

"This transaction is subject to joint venture and government approvals," a Woodside spokeswoman said in emailed comments.

"Woodside will consider all its options," she said.

(Reporting by Sonali Paul; Editing by Kim Coghill)

((; +61 3 9286 1419;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.