May 8, 2017

BP and Kosmos strike gas again off Senegal

BP has announced another large gas discovery off the coast of Senegal by its US partner Kosmos Energy, highlighting the west African country's emergence as an important part of the UK group's efforts to replenish its reserves. The "Major" gas find comes five months after BP agreed to invest $1bn in an alliance with Kosmos to develop resources spanning the maritime border of Senegal and Mauritania. Kosmos said results from its Yakaar-1 well indicated the presence of about 15 trillion cubic feet of gas, adding to a similar discovery last year in a well 40km away called Teranga-1. The success will increase confidence behind predictions from Kosmos that the area could hold up to 50Tcf of gas - comparable to some of the biggest offshore gas developments of recent years in Australia and Egypt. Kosmos is leading the exploration work in Senegal and Mauritania but BP is due to take operational control when the assets move into development and production.

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