Kosmos Energy has increased its working interest in the Yakaar-Teranga gas development offshore Senegal to 90% and will assume operatorship of the project from bp.
With 25 trillion cubic feet of gas in place, Yakaar-Teranga represents one of the largest gas discoveries globally. Phase one of its development – set to come online in 2024 – will generate 550 million standard cubic feet of gas daily.
A portion will be transported through a dedicated pipeline to fulfill local gas-to-power and gas-to-industry requirements, while the remaining supply will be exported to global markets via liquefied natural gas.
Kosmos Energy says it is currently refining the project’s development concept, focusing on maximizing resource monetization to cater to the energy requirements of both domestic and international markets.
“Increasing our working interest and assuming operatorship of Yakaar-Teranga is a major value creation opportunity for Kosmos. Yakaar-Teranga is one of the crown jewels of Senegal’s growing energy sector and this aligned partnership allows Kosmos and Petrosen to accelerate the development of a cost-competitive gas project supporting Senegal’s goal of providing universal and reliable access to low-cost energy,” said Andrew G. Inglis, Chairman and CEO of Kosmos Energy.
“We are pleased to work with Kosmos who has brought a new approach to the development of Yakaar-Teranga, as well as fresh thinking on how Petrosen can participate as an equal partner,” stated Thierno Seydou Ly, Director General, Upstream of Petrosen. “With a simplified and aligned partnership, we look forward to advancing the project, increasing Petrosen’s expertise through knowledge and skills transfer, and providing economic, social and environmental benefits to the people of Senegal.”
