Capricorn Energy plc said that at least 30 days’ continuous production on the Sangomar oil field had met the production condition relating to the sale of its interest in the PSC. TAX The company was informed by operator Woodside Energy plc which began production on 10 June, offshore Senegal. Capricorn added that Woodside, as recipient […]
Tag: Sangomar oil field – offshore Senegal
Capricorn notes first oil from Sangomar
Capricorn Energy plc noted the start of production from the Sangomar field development, offshore Senegal. TERMS First production satisfies the first oil condition under the sale and purchase agreement with operator Woodside Energy plc, which initially targeted first oil in late 2023. Capricorn may be entitled to a contingent payment of either $25m or $50m […]
FPSO arrives at Sangomar oil field
Capricorn Energy plc said that the floating production storage and offloading (FPSO) facility had arrived for the Sangomar oil field development, offshore Senegal. TAX The FPSO set sail from Singapore in December 2023 while operator Woodside Energy plc still targets first production for mid-2024. Capricorn added it maintained it owned no registration duty after it […]
Capricorn receives tax notice for Sangomar sale
Capricorn Energy plc said it would defend its position against tax notice relating to a product sharing contract over the Sangomar oil field, offshore Senegal. TRANSFER In 2020 Woodside Energy acquired the entire interest in the project belonging to the company, then known as Cairn Energy. Woodside received notice from the Senegalese Tax Authority that […]
Capricorn’s payment from Sangomar first oil at risk
Capricorn Energy plc’s expected $25 – $50m contingent payment hangs in the balance after first oil was moved to next year from the Sangomar field development, offshore Senegal. SPA AGREEMENT The change of date comes after Australian operator Woodside Petroleum’s today targeted first oil, initially due in late 2023, to mid-2024. Capricorn said that it […]