Nov 11 (Reuters) - FAR Ltd FAR.AX :
* ENTERED INTO AN RSSD SALE AND PURCHASE AGREEMENT WITH ONGC VIDESH VANKORNEFT PTE LTD
* AS CONSIDERATION FOR SALE ONGC HAS AGREED TO PAY FAR US$45 MILLION AT COMPLETION
* ONGC AGREED TO REIMBURSE FAR'S SHARE OF WORKING CAPITAL FOR RSSD PROJECT FROM 1 JANUARY 2020 TOTALLING US$66.58 MILLION
* FAR EXPECTS TO HAVE ABOUT US$130 MILLION IN CASH AT CLOSE OF TRANSACTION
* ONGC REIMBURSEMENT COMPRISED OF CASH CALLS PAID BY FAR, INCLUDING US$29.60 MILLION PAID TO CURE FAR'S DEFAULT TO JV
* UNDER TRANSACTION, FAR IS PROPOSING TO SELL TO ONGC ITS INTEREST IN RSSD PROJECT