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BP eyes FID on Yakaar-Teranga gas in 2022, Sangomar first oil in 2023: official

Highlights

150 MMcf/d initial Yakaar-Teranga output expected in 2024

Second phase could include petrochemical plants

Sangomar, Senegal's first oil project, targets 100,000 b/d

BP and its partners expect to make a final investment decision on the Yakaar-Teranga offshore gas development next year, with first production expected in 2024, an official from the country's petroleum and energy ministry said Nov. 9, as it seeks to build on the success of the Greater Tortue Ahmeyim field, which straddles neighboring Mauritania.

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Yakaar-Teranga, which is estimated to hold more than 20 Tcf, will be used to meet local gas needs to produce electricity, Thierno Seydou Ly, director of hydrocarbons at Senegal's ministry of petroleum and energy told the Africa Oil Week conference in Dubai.

BP operates the Cayar Offshore Profond block, where Yakaar-Teranga is located, with a 60% stake. It is partnered by Kosmo Energy with 30% and Senegal's state-run Petrosen with 10%.

"We have already finished the evaluation phase [of Yakaar-Teranga]," Seydou Ly said "We hope to take a final decision in 2022 and to begin production in 2024 [at] an initial quantity 150 MMcf/d. This is the first phase."

The second phase may include other facilities such as petrochemicals, he added. BP has said the project could also become part of a future LNG hub in the basin.

BP were not immediately available for comment.

Senegal and Mauritania expect to produce first LNG from the Greater Tortue Ahmeyim offshore late 2023, a project that was delayed by a year due to the pandemic.

Initial output from the project will be 2.5 million mt/year, which will eventually rise to 10 million mt/year after the completion of all three phases.

First oil project

Senegal also expects first oil from Sangomar field in the second or third quarter of 2023 after also facing COVID-19 delays, Seydou Ly said.

The $4.5 billion project, the country's maiden oil development, is 40% complete and will produce 100,000 b/d, he added.

Australian oil and gas independent Woodside Energy had acquired FAR Ltd.'s stake in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore, or RSSD, joint venture in Senegal.

The RSSD development includes the Sangomar oil field, which has recoverable oil resources of 500 million barrels. A final investment decision on the first phase of Sangomar, targeting 230 million barrels, was taken in January 2020.

Woodside has an 82% share in Sangomar field and a 90% stake in the remaining RSSD blocks. Senegal's state-run Petrosen holds the remaining 18% stake in the Sangomar block.

Senegal is an emerging oil province opened up by the SNE and FAN discoveries drilled in 2014.