Mauritanian Government Disputing Amendments to Woodside PSCs
Woodside Petroleum Ltd. has been advised by the Mauritanian Government that it disputes amendments to four offshore production sharing contracts operated by the company's wholly-owned subsidiary, Woodside Mauritania Pty Ltd.
The amendments, which are supplementary to the production sharing contracts, were negotiated with the Ministry of Energy and Petroleum and approved by the Mauritanian Government and the Mauritanian Parliament before becoming law in 2005. Woodside is confident that the amendments are proper, valid and binding on all parties.
Woodside Mauritania Pty Ltd is in discussions with the Mauritanian Government to explore ways of resolving the dispute.
Woodside welcomes the Government's willingness to address the matter under the dispute resolution procedures of the production sharing contracts. If the dispute cannot be resolved through discussion, the parties are likely to begin arbitration under the contract terms.
The dispute does not affect the Chinguetti project which remains on schedule to produce first oil this month.
Woodside operates the Chinguetti Joint Venture and the four offshore production sharing contracts
on behalf of several joint venturers, including Hardman, BG, Premier, ROC Oil, Fusion, Petronas, Dana Petroleum, Energy Africa and the Government-owned Societe Mauritanienne des Hydrocarbures.
Operates 3 Offshore Rigs
- Chevron Starts LNG Output at Australia's Wheatstone (Oct 09)
- Global LNG: Faltering Supply Prompts Short-Covering Price Rally (Aug 11)
- Woodside Sees Output Growing 15 Pct Over Next Three Years (May 23)
Company: BG Group more info
- Shell Mulls LNG-Hub Network as Use by Ships and Trucks Expands (Jul 11)
- Tanzania Laws Would Allow Govt to Tear Up Mining, Energy Deals (Jun 29)
- Despite Cuts, Big Oil to Expand Production into the 2020s (Sep 05)
Company: PETRONAS more info
Operates 10 Offshore Rigs
- After Europe's Gas Market Disasters, LNG May Come to the Rescue (Dec 12)
- Petronas Unit Agrees Share Swap With Shell's Africa Operator (Dec 05)
- Malaysia's Petronas Asked To Exit Myanmar In Protest Of Rohingya Crisis (Nov 08)
Company: Premier Oil more info
Operates 1 Offshore Rigs
- Independents Go Big in North Sea (Jan 03)
- European Oil Producers' Weak Hedging Shows Bet on Price Rebound (Jul 31)
- Mexico Oil Privatization Pays Off With Billion-Barrel Find (Jul 12)
Company: Hardman Resources more info
- Stratic Names Thomas CFO, Director (Jun 11)
- Govt Offers Blocks 2(ab), Guayaguayare to Hardman, Centrica (May 03)
- Tullow Reports Record Results for 2006 (Mar 21)
Company: Fusion Oil & Gas more info
- Roc Reports Dry Hole Offshore Mauritania (Aug 01)
- Mauritanian Government Disputing Amendments to Woodside PSCs (Feb 03)
- Zoule-1 Fails to Find Hydrocarbons (Jan 12)