November 19, 2019 / 12:45 AM / 19 days ago

Woodside would consider increasing stake in Senegal oil field: CEO

FILE PHOTO: Woodside Petroleum Chief Executive Peter Coleman attends an interview with Reuters in Hong Kong, China March 29, 2017. REUTERS/Bobby Yip

MELBOURNE (Reuters) - Woodside Petroleum (WPL.AX) would consider increasing its equity stake in the Sangomar oil project off Senegal if any of its partners looked to sell down their stake, Chief Executive Peter Coleman said on Tuesday.

Coleman told analysts at a briefing that if the partners looked to sell any of their equity, Woodside would look at acquiring that “very very closely”. He was asked whether the company, as operator of the Sangomar project, would want to increase its 35% equity stake.

Woodside’s partners in the project are Cairn Energy (CNE.L), FAR Ltd (FAR.AX) and the Senegal government.

Reporting by Melanie Burton; Editing by Muralikumar Anantharaman

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