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FID taken for Phase 1 of the Greater Tortue Ahmeyim LNG project

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LNG Industry,

Kosmos Energy has released a statement claiming that a final investment decision (FID) has been agreed for Phase 1 of the Greater Tortue Ahmeyim project.

According to the statement, the FID was taken by Kosmos, BP, Petrosen and SMHPM. The project will produce gas from a deepwater subsea system and mid-water FPSO to a floating LNG (FLNG) facility at a nearshore hub located on the maritime border between Mauritania and Senegal. The FLNG facility for Phase 1 is designed to provide an average of approximately 2.5 million tpy, with the total recoverable gas in the field estimated to be approximately 15 trillion ft3. Kosmos claims that the project will provide LNG for global export, but will also make gas available for domestic customers in both Senegal and Mauritania. First gas for the project is expected in 1H22. Following a competitive tender process that involved all partners, Kosmos claims that BP Gas Marketing has been selected as the buyer for the LNG offtake for Greater Tortue Ahmeyim Phase 1.

Andrew G. Inglis, Chairman and Chief Executive Officer, said: “We are delighted to announce a final investment decision for this world class LNG project. FID for this innovative, cross-border project has been agreed on schedule and the speed with which we achieved project sanction is testament to both the strength of the partnership among Kosmos, BP, SMHPM, Petrosen, and the governments and ministries of Mauritania and Senegal, as well as the cost competitive nature of the project. I personally congratulate President Mohamed Ould Abdel Aziz and President Macky Sall, as well as their respective Ministers, ministries, and national oil companies for collaborating on an agreement that enables their shared gas resources to be developed quickly and efficiently for the benefit of both countries.

“For Kosmos, Greater Tortue Ahmeyim is another example of a world class discovery being moved to project sanction on an accelerated timeline, ensuring early delivery of cash flow to the project partners and the governments of Mauritania and Senegal. With BP as operator, we have a partner with the experience and expertise to move the project through the development phase to production in the first half of 2022.

“While today we celebrate the excellent progress on Phase 1 of the Greater Tortue Ahmeyim project, we are already looking forward to, and working on, subsequent phases of development to expand liquefaction capacity to approximately 10 million tpy. We also believe there is potential for two additional world class gas hubs in the region – one near the Bir Allah discovery offshore Mauritania and the other near the Yakaar/Teranga discoveries offshore Senegal. Kosmos looks forward to collaborating with its partners, and the governments and ministries of Mauritania and Senegal, to advance this important work.”

In the statement, Kosmos Energy claims that the parties will continue to obtain the final regulatory and contract approvals. Following these approvals, Phase 1 of the project will proceed to the detailed design and construction phase, with awarding of engineering, procurement, construction and installation (EPCI) contracts. Project execution activities are expected to commence in 1Q19.

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