BP, whose US headquarters are located in Florida, has agreed to buy stakes in gas-heavy exploration areas off the coast of Mauritania and Senegal from Kosmos, a Dallas-based energy company, days after announcing the long-awaited renewal of an onshore oil concession in Abu Dhabi. The combined deals are worth around USD $3.4 billion and will add valuable oil and gas reserves to BP’s books.
BP said it had agreed to buy a 62 percent stake and operational control of Kosmos’ Mauritania exploration blocks, which include the Tortue discovery, estimated by Kosmos to contain more than 15 trillion cubic feet (tcf) of gas. Gas from the Tortue field is set to be exported from a liquefied natural gas (LNG) facility. BP also agreed to buy a 32.5 percent stake in Kosmos’ Senegal blocks, spending in total around USD $1 billion on the Kosmos deal.