Tribunal Says Gas Co. Couldn't Block $440M Senegal Deal

Law360 (February 14, 2020, 6:26 PM EST) -- An international tribunal has rejected Australian oil and gas company FAR Ltd.'s claim that it had the right to preempt ConocoPhillips' $440 million sale of its interest in three significant exploration blocks located off the coast of Senegal.

The International Chamber of Commerce tribunal has ruled that there was no barrier to the U.S. oil giant selling its subsidiary ConocoPhillips Senegal BV — which held its 35% interest in the three exploration blocks — to Australian oil and gas company Woodside Petroleum Ltd. in July 2016, according to a statement Woodside issued on Friday.

The tribunal also rejected FAR's other claims in...

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