Woodside Energy embroiled in legal battle over Senegal oil and gas field
Company files court action in capital
New president steps in to reassure investors
Radical change of government stokes concerns over tougher terms
WEB DAKAR Aug 7 Reuters - Australia's Woodside Energy (WDSAX), which operates the Sangomar oil and gas field in Senegal, said on Wednesday it had filed a court action in the capital.
The move comes amid concerns that a shake-up of resources policy could hit the US$5 billion project. Senegal's new president, Macky Sall, has stepped in to reassure Woodside and other investors, but the company's legal action suggests it is not fully satisfied with the government's assurances.
A radical change of government in Senegal has stoked concerns that Woodside Energy will be hit by tougher terms for its near US$8 billion Sangomar oil and gas field.
The Senegalese Tax Authority has also issued a notice of adjustments to FAR Limited, another company involved in the Sangomar project, with respect to a potential tax liability of US$200 million.
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