The UK oil and gas company BP has exited the development of the Yakaar-Teranga natural gas field, located offshore Senegal, following a disagreement with the local government on the use of gas production, that BP wanted to export, while Senegal wanted to use it for the domestic market. Prior to its exit, BP owned a 60% share in the field, which has reserves estimated at 25 tcf (708 bcm). Following BP’s exit, the US company Kosmos Energy boosted its ownership of the gas field from 30% to 90% and became operator of the project. The Senegalese state-owned company Petrosen aims to eventually acquire the majority stake in the Yakaar-Teranga field.
Contrary to BP’s earlier target of 2028, Senegal aims to expedite the field’s development to supply gas by 2026. The first phase of the Yakaar-Teranga project is expected to have a production capacity of 150 mcf/d (1.55 bcm/year). Once completed, the project is set to produce around 5.8 bcm/year of natural gas.
BP and Kosmos are also developing the US$5bn Greater Tortue Ahmeyim (GTA) gas project, spanning the border between Senegal and Mauritania, which could begin production in 2024 or 2025. Senegal only produced about 7 mcm of natural gas in 2022.