Kosmos Vitality Ltd has elevated its working curiosity to 90% and assumed operator-ship, topic to customary authorities approvals, of the world scale Yakaar-Teranga fuel discoveries offshore Senegal. The rise in working curiosity follows BP’s exit from the sector.
Yakaar-Teranga is among the world’s largest fuel discoveries lately and holds round 25 trillion ft3 of advantaged fuel in place, with negligible carbon dioxide content material and minimal impurities, decreasing the necessity for processing forward of transportation/liquefaction.
Kosmos has been working intently with PETROSEN and the Authorities of Senegal on an progressive growth idea that prioritises cost-competitive fuel to the quickly rising home market, mixed with an offshore LNG facility focusing on exports into worldwide markets.
The at present envisioned growth idea is an offshore growth producing roughly 550 million ft3/d of fuel with home fuel transported through pipeline to shore and export volumes liquefied on a floating LNG vessel. The idea is now being optimised to finest meet the home and worldwide necessities, after which the undertaking will transfer into FEED.
As idea optimisation progresses, the intention is for PETROSEN to take part as an equal accomplice within the full worth chain with a larger working curiosity. Kosmos and PETROSEN plan to judge potential partnership methods with the target of making an aligned partnership possessing the mandatory upstream and midstream experience, coupled with entry to price efficient financing and publicity to finish markets.
Kosmos Vitality’s Chairman and CEO, Andrew G. Inglis, stated: “Growing our working curiosity and assuming operatorship of Yakaar-Teranga is a serious worth creation alternative for Kosmos. Yakaar-Teranga is among the crown jewels of Senegal’s rising power sector and this aligned partnership permits Kosmos and PETROSEN to speed up the event of a cost-competitive fuel undertaking supporting Senegal’s purpose of offering common and dependable entry to low-cost power. The undertaking can be anticipated to decrease emissions by displacing heavy gas oil within the nation’s power combine. As well as, the undertaking is predicted to ship LNG export volumes to world markets, additional establishing Senegal as an essential and dependable provider of power to the world. I wish to thank PETROSEN for his or her help to progress this chance. Kosmos seems ahead to delivering a undertaking that’s aligned with the nation’s strategic growth plan, ‘Plan Sénégal Emergent,’ to drive social progress and inclusive financial progress in Senegal for a few years to come back.”
PETROSEN’s Director Normal, Upstream, Thierno Seydou Ly, added: “We’re happy to work with Kosmos who has introduced a brand new method to the event of Yakaar-Teranga, in addition to recent pondering on how PETROSEN can take part as an equal accomplice. Yakaar-Teranga is a strategic undertaking and a key asset for the federal government’s ‘Gasoline-To-Energy’ and ‘Gasoline-To-Business’ initiatives, which intention to offer reasonably priced, considerable, and cleaner power as a part of the nation’s ‘Plan Sénégal Emergent.’ With a simplified and aligned partnership, we sit up for advancing the undertaking, growing PETROSEN’s experience via data and abilities switch, and offering financial, social, and environmental advantages to the individuals of Senegal.”
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/14112023/kosmos-energy-to-develop-lng-facility-following-assumed-operatorship-of-yakaar-teranga/