BP partners with Kosmos for West Africa gas

Senegal

DAKAR, December 19, 2016 – BP will acquire interests in Kosmos Energy’s exploration blocks offshore Mauritania and Senegal, the major announced on Monday.

The two agreements will land BP a 62% working interest in and operatorship of Mauritania blocks C-6, C-8, C-12 and C-13, in addition to a 32.94% interest in the Saint-Louis Profond and Cayar Profond blocks offshore Senegal. Combined, the assets add up to an acreage of 33,000 square kilometres. The agreements represent a value of close to USD 1 billion.

According to Kosmos Energy, the total acreage is estimated to hold 1.42 tcm (50 tcf) worth of gas resources. The company also projects a liquids resource base of more than 1 billion barrels. The acreage’s main asset is the Tortue field, home to discovered gas resources of 425 bcm (15 tcf).

In Mauritania, BP will work with Société Mauritanienne Des Hydrocarbures et de Patrimoine Minier, which holds a 10% in the contractor group. The company’s partners offshore Senegal are Timis Corporation (25%) and Société des Pétroles du Sénégal (10%).

BP and Kosmos Energy aim to develop a so-called near-shore LNG facility to accommodate both Tortue gas as well as future gas resources.

“BP’s entry into Mauritania and Senegal represents an exciting strategic opportunity to work with Kosmos Energy in an emerging world-class hydrocarbon basin,” BP CEO Bob Dudley said in a press release, adding that the duo would work to establish “a new LNG hub in Africa.”