BP : Major milestone achieved for BP-operated Tortue/Ahmeyim gas project

Inter-Government Cooperation Agreement signed between governments of Mauritania and Senegal

BP today confirmed that a key agreement between the governments of Mauritania and Senegal, which will enable the development of the BP-operated Tortue/Ahmeyim gas project to continue to move towards a final investment decision, has been signed by the two governments.

The Inter-Government Cooperation Agreement (ICA) provides for development of the Tortue/Ahmeyim gas field through cross-border unitisation, 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.

The agreement was signed on Friday, 10 February in Nouakchott, Mauritania by Mauritania Minister of Oil, Energy and Mines Mohamed Abdel Vetah and Senegal Minister of Petroleum and Energies Mansour Elimane Kane during a ceremony with President Mohamed Ould Abdel Aziz of Mauritania and President Macky Sall of Senegal.

Bernard Looney, BP Upstream chief executive, commented: 'This is an important milestone for this innovative gas project which reflects the strong, cooperative partnership between Mauritania and Senegal. We look forward to continuing to work with both countries and our partners, Kosmos Energy, Petrosen and SMHPM, towards a final investment decision.'

The Tortue/Ahmeyim gas field, with estimated resources of 15 trillion cubic feet of gas, is located offshore on the border between Mauritania and Senegal.

BP has completed significant engineering design towards the Tortue/Ahmeyim project, an integrated gas value chain and near-shore liquefied natural gas (LNG) development which would export LNG to global markets as well as supplying gas to Senegal and Mauritania.