23rd Sep 2019 09:26
(Alliance News) - Kosmos Energy Ltd on Monday said that Yakaar No 2 well encountered 30 metres of net gas pay, underpinning the company's view that the Yakaar-Teranga resource base has the potential to support a liquefied natural gas project.
The Yakaar-2 well, located offshore Senegal, was drilled in 2,500 meters of water to a total measured depth of around 4,800 meters.
Partners in the Yakaar-Teranga gas project include BP PLC as operator and 60% stake owner, Kosmos with 30% stake, and Senegal's state owned petroleum company Petrosen SA, or Societe des Petroles du Senegal, with 10% interest.
The companies plans to develop the Yakaar-Teranga project in a phased manner with Phase 1 providing domestic gas and data to optimize the development of future phases.
BP back in 2017 said it had made a major gas discovery in Senegal while drilling the Yakaar-1 exploration well. The Yakaar-1 exploration well was drilled to a total depth of approximately 4,700 meters in nearly 2,550 metres of water.
Kosmos Energy shares were trading 3.8% higher at 548.00 pence each in London on Monday morning. BP shares were down 0.5% at 518.20p.
The Valaris DS-12 rig, which was drilling the Yakaar No 2 well, will now move to drill the Orca-1 exploration well located in Mauritania, Kosmos said.
"The Yakaar-2 appraisal well demonstrates the scale and quality of the Yakaar resource base. Senegal is one of the fastest growing economies in the world and Kosmos is excited to be working alongside BP and Petrosen to support the country's growing energy needs," said Kosmos Chair & Chief Executive Officer Andrew Inglis.
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