Woodside Petroleum Ltd (ASX:WPL) made an offer to acquire varied minority stake in Rufisque, Sangomar and Sangomar Deep from FAR Senegal RSSD SA and others for $100 million on December 3, 2020. Woodside Petroleum Ltd (ASX:WPL) entered into a sale and purchase agreement to acquire varied minority stake in Rufisque, Sangomar and Sangomar Deep from FAR Senegal RSSD SA and others on January 19, 2021. FAR Senegal RSSD SA has a 13.67% interest in the Sangomar exploitation area and a 15% interest in the remaining RSSD evaluation area. Woodside has given notice exercising its right to pre-empt the sale by FAR Senegal RSSD SA ONGC Videsh Vankorneft Pte Ltd of FAR Senegal RSSD SA’ s entire participating interest in the Rufisque, Sangomar and Sangomar Deep. The terms of acquisition will reflect those of the FAR/ONGC transaction, including payment to FAR Senegal RSSD SA of $45 million, reimbursement of FAR's share of working capital, including any cash calls, from January 1, 2020 to completion, entitlement to certain contingent payments capped at $55 million. The acquisition will be funded from current cash reserves. Woodsides participating interest in the RSSD joint venture will increase to 82% for the Sangomar exploitation area and 90% for the remaining RSSD evaluation area following completion of this acquisition and the Cairn acquisition announced on August 17, 2020, assuming no other joint venture participant pre-empts. Woodside will remain operator. The acquisition remains subject to Government of Senegal approval, FAR Senegal RSSD SA’s shareholder approval and other customary conditions precedent. On December 15, 2020, Woodside Petroleum has exercised its pre-emption right to acquire additional 13.6667% participating interest in Sangomar Field and 15% participating interest in Remaining Contract Area (Exploration Area) of RSSD Block, Offshore Senegal, from FAR, for approximately $166.58 million. FAR shareholders are due to consider authorising the agreement with Woodside at a shareholders’ meeting to be held on February 18, 2021. As on April 15, 2021, FAR Senegal RSSD SA’s shareholders approved the transaction. As of May 31, 2021, FAR Limited advises that it has received formal notification from the Senegalese Minister of Petroleum and Energies that it approves the transfer of FAR’s RSSD interest to Woodside and t it has satisfied the condition precedent for the sale of its interest in the RSSD project to a member of the Woodside group relating to the termination of a third-party contract. The transaction is value accretive for Woodside shareholders and results in a streamlined joint venture which will assist in our targeted sell-down in 2021. Woodside Petroleum Ltd (ASX:WPL) completed the acquisition of varied minority stake in Rufisque, Sangomar and Sangomar Deep from FAR Senegal RSSD SA and others for approximately $180 million on July 7, 2021. The purchase price was $45 million plus a working capital adjustment of approximately $167 million to reflect the acquisition effective date of January 1, 2020. The final completion payment to FAR, after adjustments and remedying of FAR’s defaults under the joint operating agreement, was approximately $126 million.