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FAR loses arbitration over Woodside Senegal oil project

Angela Macdonald-Smith

Junior oil explorer FAR Ltd has lost the long-running arbitration case it initiated over Woodside Petroleum's entry into an oil venture in Senegal, cementing its senior partner's position in the $US4.2 billion ($6.3 billion) project.

FAR said it was analysing the ruling from the International Court of Arbitration, received on Friday morning,  and "evaluating its position". Its shares dropped as much as 8.8 per cent in early trading to 3.1¢.

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Angela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables. Connect with Angela on Twitter. Email Angela at amacdonald-smith@afr.com

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    Original URL: https://www.afr.com/companies/energy/far-loses-arbitration-over-woodside-senegal-oil-project-20200214-p540s9