Santa Fe Snyder sues Conoco over agreement

Santa Fe Snyder Corp. has filed suit against Conoco Inc. alleging that Conoco breached an agreement to share the market for natural gas supplies to be transported to Singapore from Indonesia through planned subsea pipelines.In a lawsuit filed in a US district court in Wilmington, Del., Houston-based Santa Fe Snyder said its Indonesian subsidiary had signed an agreement with Conoco's Indonesian unit a year ago defining the companies' separate, exclusive gas-supply arrangements with two competing Singapore firms (OGJ, Oct. 4, 1999, p. 38; Aug. 9, 1999, p. 23). Santa Fe Snyder, which said it has invested $150 million in its project, contends that Conoco discovered new gas reserves in...

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