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Issue 1 2017 - BP invests in the development of oil and gas resources in West Africa

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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BP invests in West African oil and gas resources
On 19 December 2016, BP announced an agreement with Kosmos Energy to acquire a US$916 million operating interest in Kosmos' 6, C-8, C-12 and C-13 exploration blocks offshore Mauritania, as well as in Saint-Louis Profond and CayarProfond, Senegal.
32.
49% operating interest
in the exploration block.

Cosmos will continue to own 28% and 32.
51% of the exploration blocks in both countries, and will receive a royalty fee
of $2 per barrel of natural gas condensate in the future.
The two companies have signed an exclusive cooperation agreement with Cosmos to implement exploration and BP to jointly develop oil and gas resources in Mauritania, Senegal and The Gambia, which is expected to close
in the first quarter of 2017.
The agreement covers an area of approximately 33,000 square kilometers, with total potential reserves of approximately 50 trillion cubic feet of natural gas and 1 billion barrels of natural gas condensate
in the block.

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