FAR Faces $6 Million Claim From Woodside Over Senegal Project
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FAR faces a $6 million claim from Woodside Energy regarding unrecovered petroleum costs linked to FAR's 2021 sale of its interest in the Senegal project. Woodside, which holds an 82% stake in the joint venture, demands payment following a ruling from the Senegal Ministry of Energy that certain expenditures are non-recoverable. FAR denies liability and maintains its rights under the agreement. In trading, FAR's shares rose 2%, while Woodside's shares increased by 3%.
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