Kosmos starts Mauritania-Senegal stake sell-down process

Dallas-based Kosmos Energy has commenced the formal process to sell down its position in Mauritania and Senegal to around 10 percent. 

Speaking during the company’s results presentation, Kosmos’ chairman and CEO Andrew Inglis said, “Our intention to sell down our position in Mauritania and Senegal to around 10 percent has generated significant industry interest and we have commenced a formal process, with bids expected by the end of summer.”

Kosmos is partnering BP in the Greater Tortue Ahmeyim project, located at the maritime border of Senegal and Mauritania.

As of early May, all major contracts have been awarded for Tortue Phase 1, and construction activity for the project has commenced with work on the FPSO, the company said in its statement.

In April 2019, KBR was awarded the pre-FEED services contract for Phases 2 and 3 of the Greater Tortue Ahmeyim project. These next phases are expected to expand the capacity of this hub to almost 10 mtpa of LNG for export.

In February, Kosmos said it has made a “significant and valuable resource” discovery in Mauritania and Senegal, and made its decision to sell down its position to 10 percent following interest grom multiple parties.