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Australia's FAR to sell entire Senegal project stake to India's ONGC Videsh unit

Nov 11 (Reuters) - Australia’s FAR Ltd said on Wednesday it will sell its entire stake in the Sangomar oil project offshore Senegal to a unit of Indian oil and gas firm ONGC Videsh Ltd for $45 million.

FAR said it expects to have about $130 million in cash at the close of the deal, which will be used to rebuild the company and further its other West African prospects offshore the Gambia and Guinea-Bissau. (Reporting by Shruti Sonal in Bengaluru; Editing by Shailesh Kuber)

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