Global Petroleum to Terminate Woodside Kenyan Farm-In Agreement
Global Petroleum Limited announced that after seeking legal advice, notice has been given to Woodside Energy (Kenya) Pty Limited terminating the Farm-In Agreement relating to certain interests in the Lamu Basin, offshore Kenya.
The termination notice has been given based on Woodside's refusal to drill a second exploratory well in the project area in accordance with the FIA and its failure to take any steps to remedy this refusal, which the Company considers to be a repudiation and breach of the FIA.
The Company and joint venture partner Dana Petroleum (E&P) Limited have advised Woodside that they intend to issue legal proceedings to recover losses suffered as a result.
Operates 3 Offshore Rigs
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