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AFX Europe (Focus): Australia's Woodside resolves dispute with Mauritanian govt

Mar 31, 2006
SYDNEY (AFX) – Woodside Petroleum Ltd said it has resolved a dispute with the Mauritanian government over amendments to four offshore production contracts operated by the company's wholly-owned subsidiary Woodside Mauritania Pty Ltd.
The company, 34 pct owned by the Royal Dutch Shell group, said an agreement in principle to settle the dispute has been reached without the need for formal arbitration.
Woodside chief executive Don Voelte said in a statement that the agreement laid the foundation for good relations between the company and the Mauritanian government.
“The Mauritanian government has worked constructively with Woodside to resolve differences between the parties,” he said.
“We are happy with this agreement and look forward to building a productive and cooperative relationship with the Mauritanian government.”
bruce.hextall@xfn.com
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