BP announces Senegal offshore gas discovery

BP announces Senegal offshore gas discovery

BP (LSE:BP) and its JV partner Kosmos Energy (NYSE:KOS) have found significant gas reserves after a well off the coast of Senegal was successfully drilled.

The well, named Yakaar-1, was drilled to a total depth of around 4,700 metres in nearly 2,550 metres of water in the Cayar Offshore Profond block by the Atwood Achiever drillship.

Bernard Looney, BP upstream chief executive officer, said: “Yakaar-1 follows the earlier exploration success that led to the Tortue discovery and further confirms our belief that offshore Senegal and Mauritania is a world-class hydrocarbon basin.

“This discovery marks an important further step in building BP’s new business in Mauritania and Senegal. We look forward to results from the additional exploration wells planned for 2017.”

The Yakaar discovery is the latest of several BP offshore gas discoveries along Africa’s coastlines.

The energy giant also recently confirmed a third gas find in Egypt’s East Nile Delta, which along with the Yakaar and Tortue discoveries, reveals BP’s intentions to enhance its offshore LNG portfolio across Africa.

@RGNonline