Shares rise as the oil and gas producer says it will pay at least $250m as a special dividend
Oil and gas producer Cairn Energy said on Monday it will sell its Senegal interests to Russia's Lukoil for up to $400m and intends to return at least $250m as a special dividend after sale completion, sending its shares up 5%.
Earlier in 2020, Cairn had said it was assessing “substantial initiatives to reduce and rephase” investment in the $4.2bn Sangomar oil development project, along with its partners, including Woodside and FAR.
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