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Kosmos Power 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 sphere.
Yakaar-Teranga is without doubt one of the world’s largest fuel discoveries in recent times and holds round 25 trillion ft3 of advantaged fuel in place, with negligible carbon dioxide content material and minimal impurities, lowering the necessity for processing forward of transportation/liquefaction.
Kosmos has been working intently with PETROSEN and the Authorities of Senegal on an modern growth idea that prioritises cost-competitive fuel to the quickly rising home market, mixed with an offshore LNG facility concentrating on exports into worldwide markets.
The at the moment envisioned growth idea is an offshore growth producing roughly 550 million ft3/d of fuel with home fuel transported by way of pipeline to shore and export volumes liquefied on a floating LNG vessel. The idea is now being optimised to greatest meet the home and worldwide necessities, after which the mission will transfer into FEED.
As idea optimisation progresses, the goal is for PETROSEN to take part as an equal associate within the full worth chain with a better working curiosity. Kosmos and PETROSEN plan to guage potential partnership methods with the target of making an aligned partnership possessing the mandatory upstream and midstream experience, coupled with entry to value efficient financing and publicity to finish markets.
Kosmos Power’s Chairman and CEO, Andrew G. Inglis, mentioned: “Rising our working curiosity and assuming operatorship of Yakaar-Teranga is a significant worth creation alternative for Kosmos. Yakaar-Teranga is without doubt one of the crown jewels of Senegal’s rising vitality sector and this aligned partnership permits Kosmos and PETROSEN to speed up the event of a cost-competitive fuel mission supporting Senegal’s objective of offering common and dependable entry to low-cost vitality. The mission can also be anticipated to decrease emissions by displacing heavy gas oil within the nation’s vitality combine. As well as, the mission is anticipated to ship LNG export volumes to international markets, additional establishing Senegal as an necessary and dependable provider of vitality to the world. I want to thank PETROSEN for his or her help to progress this chance. Kosmos appears ahead to delivering a mission 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 return.”
PETROSEN’s Director Normal, Upstream, Thierno Seydou Ly, added: “We’re happy to work with Kosmos who has introduced a brand new strategy to the event of Yakaar-Teranga, in addition to contemporary pondering on how PETROSEN can take part as an equal associate. Yakaar-Teranga is a strategic mission and a key asset for the federal government’s ‘Fuel-To-Energy’ and ‘Fuel-To-Business’ initiatives, which goal to offer reasonably priced, plentiful, and cleaner vitality as a part of the nation’s ‘Plan Sénégal Emergent.’ With a simplified and aligned partnership, we stay up for advancing the mission, growing PETROSEN’s experience via data and abilities switch, and offering financial, social, and environmental advantages to the folks 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/
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