BP Group Withdraws from Senegal’s Largest Gas Project
According to Bloomberg, this will increase the share of participation of the African government
Energy group BP is negotiating an exit from the Yaqar-Teranga gas field project offshore Senegal, which will increase the African government’s share of participation. Bloomberg reported this.
The Yakaar-Teranga field was discovered in 2016, the first commercial batch of gas should be supplied to the world market in 2024. The field’s recoverable reserves are estimated at 20 trillion cubic feet of gas. It will be valid until 2053.
It is expected that BP, which now controls 60% of the project’s capital, will cede its share to its two other participants – the Senegalese company Petrosen and the American Kosmos Energy.
The reasons for VR’s exit are not stated. Earlier, a group spokesman said Yakaar-Teranga no longer fit into BP’s strategy.
