BP Invests in Mauritania and Senegal Gas Projects
BP
London - QNA
British energy major BP on Monday ramped up its presence in Africa with the purchase of stakes in gas projects in Mauritania and Senegal.
BP said in a statement that it has agreed to acquire holdings in licenses held by Kosmos Energy for a total of $916 million (876 million euros).
The London-listed group will buy a 62-percent interest in Kosmos' exploration blocks in Mauritania and a 32.49% share in its Senegal exploration blocks, AFP reported.
BP will take a 62% stake in Kosmos Energy's gas prone Mauritanian exploration blocks plus a 32.49% effective working interest in Kosmos’ Senegal exploration blocks - totaling some 33,000sq km. The acreage could contain about 50 trillion cubic feet of gas.
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