MOSCOW, Aug 17 (Reuters) - Russian oil producer Lukoil said on Monday its deal to buy 40% of an oil project in Senegal from Cairn Energy CNE.L may not go ahead, as Australia's Woodside Petroleum WPL.AXL has exercised its right to match its offer.
Lukoil, which signed a preliminary deal on the acquisition in July, said it had not yet paid anything towards the stake.
Earlier on Monday Woodside Petroleum said it had exercised its right to match a $400 million offer by Lukoil to buy Cairn Energy's entire stake in the Sangomar oil project.