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Kosmos expects to reach Mauritania and Senegal deal by end of the year

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LNG Industry,

According to Reuters, Kosmos Energy anticipates that it will have agreed to sell down its stake in projects off the coast of Mauritania and Senegal in which it partners with BP by the of this year.

In December last year, Reuters reports that BP and its partners issued approval for the development of the Greater Tortue Ahmeyim gas project off the coast of Senegal and Mauritania. This was a first for the two countries.

Reuters reports that the Tortue floating LNG (FLNG) facility will produce 2.5 million tpy of LNG. The field reportedly holds a total of approximately 15 trillion ft3.

According to Reuters, Kosmos holds a 30% stake in Senegal and 28% interest in Mauritania. In May this year, the company claimed that it received interest in the projects, leading to the commencement of a formal process to decrease its interest.

Reporting its half-year results, Kosmos said: “The previously announced process to sell down Kosmos’ interest in the broader Mauritania/Senegal region to 10% is ongoing and is targeting a transaction announcement by year end.”

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