Fossil Energy – Senegal
Kosmos Energy announced today that it has increased its working interest to 90% and assumed operatorship, subject to customary government approvals, of the world-scale Yakaar-Teranga gas discoveries offshore Senegal.
The increase in working interest follows BP’s exit from the field.
Yakaar-Teranga is one of the world’s largest gas discoveries in recent years and holds around 25 trillion cubic feet (Tcf) of advantaged gas in place, with negligible carbon dioxide content and minimal impurities, reducing the need for processing ahead of transportation/liquefaction.
Kosmos has been working closely with PETROSEN and the Government of Senegal on an innovative development concept that prioritizes cost-competitive gas to the rapidly growing domestic market, combined with an offshore liquefied natural gas (LNG) facility targeting exports into international markets.
The currently envisioned development concept is an offshore development producing approximately 550 million standard cubic feet of gas per day with domestic gas transported via pipeline to shore and export volumes liquified on a floating LNG vessel.
The concept is now being optimized to best meet the domestic and international requirements, after which the project will move into front-end design and engineering (FEED).
As concept optimization progresses, our aim is for PETROSEN to participate as an equal partner in the full value chain with a greater working interest. Kosmos and PETROSEN plan to evaluate potential partnership strategies with the objective of creating an aligned partnership possessing the necessary upstream and midstream expertise, coupled with access to cost effective financing and exposure to end markets.
