By Petro Chemical, February 13, 2020

Kosmos signs deal with BP Gas for LNG

Oil and gas company Kosmos Energy, along with its partners, has signed an LNG supply deal with a subsidiary of BP for volumes from the Greater Tortue Ahmeyim Phase 1 project.

Oil and gas company Kosmos Energy, along with its partners, has signed an LNG supply deal with a subsidiary of BP for volumes from the Greater Tortue Ahmeyim Phase 1 project.

Partners in the cross-border Greater Tortue Ahmeyim project, located offshore Mauritania and Senegal, include SMHPM, Petrosen, BP, and Kosmos.

Kosmos said on Wednesday that the deal was signed with BP Gas Marketing Limited, the firm selected as the sole buyer for the investor partners’ LNG offtake for Tortue Phase 1.

According to the company, the project would deliver up to 2.45 million tonnes of LNG per annum over an initial term of up to 20 years.

Following the signing of the SPA, Kosmos intends to book net proved reserves of approximately 100 million barrels of oil equivalent associated with Phase 1. The company expects to book additional reserves when further phases of the Tortue project are sanctioned and sale and purchase agreements signed for the offtake volumes.

Todd Niebruegge, SVP and head of the Mauritania-Senegal business unit at Kosmos Energy, said: “The signing of the SPA is an important milestone in the Greater Tortue Ahmeyim project for the Governments of Mauritania and Senegal, SMHPM, Petrosen, BP, and Kosmos.

“With the signing of this agreement, we have materially increased the proved reserve base of the company and the project remains on track to deliver first gas in the first half of 2022.”

The Greater Tortue Ahmeyim project will produce gas from an ultra-deepwater subsea system and mid-water floating production, storage and offloading (FPSO) vessel, which will process the gas, removing heavier hydrocarbon components. The gas will then be transferred to a floating liquefied natural gas (FLNG) facility at a nearshore hub.

The FLNG facility is designed to provide circa 2.5 million tonnes of LNG per annum on average, with the total gas resources in the field estimated to be around 15 trillion cubic feet, with first gas expected in 2022.

 

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