Mauritania: Tortue Deal

The prospects for a prompt final investment decision at the BP/Kosmos 15tcf Tortue deepwater prospect on the Mauritania/Senegal maritime border have taken a major step forward with the 9 February signing of an Inter-Government Cooperation Agreement.

US firm Kosmos says the project remains on track for FID by end-2018 and first gas by late 2021. FEED is ongoing.

Tortue (or Ahmeyim as Senegal calls it) was discovered by Kosmos in 2015 ( MEES, 8 May 2015 ). The discovery, in 2,700ms water depth and 100km offshore, appears to straddle the two countries’ maritime border more or less equally.

The deal “provides for development… through cross-border unitization, with a 50%-50% initial split of resources and revenues and a mechanism for future equity redeterminations based on actual production and other technical data,” BP says. (CONTINUED - 376 WORDS)