BP & Kosmos Energy Announces Major Gas Find Offshore Senegal

BP along with joint venture partner Kosmos Energy announces a major gas discovery offshore Senegal.

The Yakaar-1 exploration well was drilled to a total depth of approximately 4,700 meters in nearly 2,550 meters of water in the Cayar Offshore Profond block by the Atwood Achiever drillship.

Bernard Looney, BP Upsteam chief executive officer, commented “Yakaar-1 follows the earlier exploration success that led to the Tortue discovery and further confirms our belief that offshore Senegal and Mauritania is a world-class hydrocarbon basin. This discovery marks an important further step in building BP’s new business in Mauritania and Senegal. We look forward to results from the additional exploration wells planned for 2017.”

The Yakaar discovery, coupled with the Teranga discovery, creates the foundation for a further LNG hub in the basin. BP and Kosmos will be drill stem testing the Tortue discovery in mid-2017 and will now drill 3 additional exploration wells over the next 12 months offshore of Senegal and Mauritania.

• BP in April agreed to deepen its investment in Senegal by acquiring the full 30% minority participating interests that Timis Corporation held in the Saint-Louis Profond and Cayar Profond blocks offshore Senegal. This is subject to government approval and follows BP’s entry into Mauritania and Senegal through an agreement with Kosmos Energy, announced in December 2016.
• The Saint-Louis Offshore Profond block includes the Senegalese sector of the cross border Tortue (Ahmeyim-Guembuel) field and significant future prospectivity. Tortue is estimated to contain more than 15 trillion cubic feet of discovered gas resources.
• On completion of the agreements, participating interests in the Senegal blocks will be similar to the aligned partnership in Mauritania, with BP holding participating and effective working interests of close to 60%, Kosmos close to 30% and Société des Pétroles du Sénégal (Petrosen) 10%.
• Formerly known as Teranga West, Yakaar-1 is in the Cayar Offshore Profond block roughly 95 kilometres northwest of Dakar. In May of 2016, Kosmos announced another significant gas discovery approximately 40 kilometers to the east at the Teranga-1 exploration well.
• Kosmos will provide additional information about the Yakaar-1 discovery during its first quarter 2017 conference call on Monday, May 8, 2017 at 11:00 a.m. EDT. The call will be available via telephone and webcast.