BRIEF-Far Ltd Says CNOOC Acquires 55.55% Of Svenska's Interest In Offshore Guinea-Bissau
Aug 6 (Reuters) - Far Ltd:
* CNOOC ACQUIRES 55.55% OF SVENSKA'S INTEREST IN HIGHLY PROSPECTIVE ACREAGE OFFSHORE GUINEA-BISSAU
* FAR WILL RETAIN ITS 21.42% PARTICIPATING INTEREST IN EACH OF LICENCES.
* SVENSKA WILL RETAIN A REDUCED 23.03% PARTICIPATING INTEREST AND SHALL CONTINUE TO ACT AS OPERATOR
* UNDER AGREEMENT CNOOC WILL BE ASSIGNED A 55.55% PARTICIPATING INTEREST IN SINAPA AND ESPERANCA LICENCES
* JOINT VENTURE IS ADVANCING PREPARATIONS FOR DRILLING OF GREATER ATUM PROSPECT IN EARLY 2020
* TRANSACTION IS EXPECTED TO CLOSE IN Q3 OF 2019 Source text for Eikon: Further company coverage:
