Kosmos, BP complete offshore Senegal transaction
Kosmos Energy has received government approval and completed its previously announced transaction with BP in Senegal.
Under the terms of the deal, BP acquired a 49.99% interest in Kosmos BP Senegal Ltd., the controlled affiliate company which holds a 65% participating interest in the Cayar Offshore Profond and the Saint Louis Offshore Profond blocksoffshore Senegal.
The effective interests in the blocks are now: BP (32.49%), Kosmos Energy (32.51%), Timis Corp. (25%), and Société des Pétroles du Sénégal (Petrosen) (10%).
Andrew G. Inglis, Kosmos Energy's chairman and CEO, said: “With the transaction now complete, Kosmos looks forward to working with the government of Senegal and partners to move ahead with the next stage of our work program involving further exploration in the two blocks and seeking to produce first gas from theTortue project by 2021.”