Woodside Acquires Stake in Exploration Acreage Offshore Senegal

Woodside, through its subsidiary Woodside Energy (Senegal), has acquired participating interest in a block offshore Senegal.

The Australian oil and gas company has entered into an agreement with Impact Oil & Gas AGC Ltd to acquire a 65 percent participating interest in a Production Sharing Contract (PSC) and associated joint operating agreement in the AGC Profond block located in the joint development area between Senegal and Guinea-Bissau (Zone).

The AGC Profond PSC covers approximately 6,700 km² and its water depths range from 1,400m to 3,700m. Impact will retain a 20 percent participating interest and Entreprise AGC SA (an entity owned by Senegal and Guinea-Bissau pursuant to the documents governing the Zone) has a 15 percent participating interest in the PSC.

Woodside CEO Peter Coleman said the PSC represented an opportunity for Woodside to secure high quality acreage in a focus area of interest. “This builds on recent acquisitions in Cameroon, Gabon and Morocco and reflects our disciplined and strategic approach to studying regional petroleum systems,” MrColeman said.

Woodside will be the operator of the PSC.