Mauritania Aims to Annul Disputed Oil Amendments

Tuesday, February 07, 2006
Mauritania's government vowed to use all possible legal actions to try to annul disputed amendments to oil production sharing contracts signed with Australia's Woodside Petroleum Ltd. The dispute threatens to overshadow the scheduled production start-up this month of a major offshore oil project operated by Woodside, which will turn the poor, largely desert-covered West African state into the continent's newest oil producer. Mauritania, whose new military rulers took power in a bloodless coup in August 2005, says it cannot accept the Woodside contract amendments, which were signed more than a year ago by a former oil minister who is now in prison facing trial for corruption. According to Reuters, Woodside says it believes the amendments, which were approved by the previous Mauritanian government and passed into law in 2005, are valid and binding on all parties. It has insisted the dispute does not affect its $530 million Chinguetti offshore oil project -- thought to contain up to 123 million barrels -- which is due to start output this month. Woodside will negotiate with Mauritania under the contracts' dispute resolution procedures. It added that during the talks, expected to last three months, exploration would continue in the areas covered by the production sharing contracts.

(Source: Reuters)

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Three European firms win Angola deepwater deals

Three European companies have won contracts for almost half the value of Angola's $16 billion ultra-deepwater Kaombo oil project, confirming a trend toward bigger

First Crude Lifting in 9 months at Libya's port of Hariga

A tanker has started loading crude at Libya's eastern port of Hariga for the first time in nearly nine months, after a federalist group agreed to re-open it last week,

Samsung Heavy Takes Up 7 Container Ship Order

South Korea's Samsung Heavy Industries said on Wednesday that it is proceeding with a project worth 642.9 billion won ($617.67 million) to build seven container ships as planned.

News

Hong Kong Tin Hau Festival

The Tin Hau Festival at Tai Miu Wan will be celebrated this year on 22 April 2014. Coxswains, owners and operators of local vessels are advised that arrangements

Fire Aboard US Warship Transiting Atlantic Ocean

U.S. Fleet Forces Command inform that a fire broke out aboard 'USS Hue City' (CG 66) as the ship was transiting the Atlantic.
 Hue City had departed Mayport, Fla.

Three NOAA scientists honored by White House

The White House yesterday awarded three NOAA scientists with Presidential Early Career Awards for Scientists and Engineers. The award is the highest honor given

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1107 sec (9 req/sec)