Continental Focus, International Reach

Kosmos to Sell Down Mauritania/Senegal Stakes

Wednesday, February 27, 2019

Kosmos Energy plans to farm down its holding in the Greater Tortue Ahmeyim development offshore Mauritania and Senegal. Kosmos, at its Capital Markets Day presentation, said it has had interest from multiple third parties.

The company holds a 28% interest on the Mauritania side, a 30% interest on the Senegal side, and 29% in the Tortue unit. Kosmos said it is looking to take its stakes down to around 10%.

With the FID taken on Phase 1 of the Greater Tortue Ahmeyim LNG development taken at the end of 2018, partners on the development will soon need to pony up their share of development costs.

Kosmos said it “has discovered a significant and valuable resource in Mauritania and Senegal and the final investment decision of the Tortue project in December 2018 has created a value inflection point: Following interest from multiple third parties, Kosmos intends to sell down its position to ~10%.”

According to information on the Kosmos Energy web site, the Pmean gross resource estimate for the Greater Tortue Complex is more than 25 Tcf of gas.