BP and Kosmos Energy have partnered in oil exploration in
Mauritania and Senegal and have also agreed to cooperate on future exploration,
positioning themselves in an emerging world-class, low-cost gas basin with
advantaged access to global markets.
BP
announced on December 19, 2016 that they have signed agreements with Kosmos
Energy to acquire 62 per cent working interest, including operatorship of
Kosmos' exploration blocks in Mauritania and a 32.49 per cent effective working
interest in Kosmos' Senegal exploration blocks. This acreage holds world-class
deepwater gas discovery and exploration prospectives in both areas.
The
33,000 sqkm of acreage covered by the agreements includes the Tortue field,
estimated to contain more than 15 tcf of discovered gas resources. The
total acreage, by Kosmos’ estimates, could contain roughly 50tcf of gas
resource potential and in excess of 1 bn barrels of liquids resource potential.
BP
will invest US$1bn mostly in the form of a multi-year exploration and
development carry to acquire a 62 per cent interest and operatorship of
offshore Blocks C-6, C-8, C-12 and C-13 in Mauritania and an effective 32.49
per cent interest in the Saint-Louis Profond and Cayar Profond blocks in
Senegal.
BP
chief executive officer, Bob Dudley,
commented, “BP’s entry into Mauritania and Senegal represents an exciting
strategic opportunity to work with Kosmos Energy in an emerging world-class
hydrocarbon basin. We believe our expertise in integrating the gas value chain,
together with a talented exploration partner in Kosmos, along with the support
of the Mauritanian and Senegalese governments brings together all the elements
needed to create a new LNG hub in Africa.”
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