Release date: 8 May 2017
LONDON - BP along with joint venture partner Kosmos Energy announced today a major gas discovery offshore Senegal.
The Yakaar-1 exploration well was drilled to a total depth of approximately 4,700 meters in nearly 2,550 metres of water in the Cayar Offshore Profond block by the Atwood Achiever drillship.
Bernard Looney, BP Upsteam chief executive officer, commented “Yakaar-1 follows the earlier exploration success that led to the Tortue discovery and further confirms our belief that offshore Senegal and Mauritania is a world-class hydrocarbon basin. This discovery marks an important further step in building BP’s new business in Mauritania and Senegal. We look forward to results from the additional exploration wells planned for 2017.”
The Yakaar discovery, coupled with the Teranga discovery, creates the foundation for a further LNG hub in the basin.
BP and Kosmos will be drill stem testing the Tortue discovery in mid-2017 and will now drill 3 additional exploration wells over the next 12 months offshore of Senegal and Mauritania.
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In order to utilize the ‘safe harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995 (the ‘PSLRA’), BP is providing the following cautionary statement. This press release contains certain forward-looking statements concerning BP’s plans and expectations to initiate three exploration wells in the Senegal Mauritania basin in 2017 and 2018; plans and expectations with respect to acquiring interests in the Saint-Louis Profond and Cayar Profond blocks and obtaining related government approvals; and expectations with respect to the future prospectivity of the Tortue field. Actual results may differ from those expressed in such statements, depending on a variety of factors including changes in public expectations and other changes to business conditions; the timing, quantum and nature of divestments; the receipt of relevant third-party and/or regulatory approvals; future levels of industry product supply; demand and pricing; OPEC quota restrictions; PSA effects; operational problems; regulatory or legal actions; economic and financial conditions generally or in various countries and regions; political stability and economic growth in relevant areas of the world; changes in laws and governmental regulations; exchange rate fluctuations; development and use of new technology; the success or otherwise of partnering; the actions of competitors, trading partners and others; natural disasters and adverse weather conditions; wars and acts of terrorism, cyber-attacks or sabotage; and other factors discussed under “Risk factors” in our Annual Report and Form 20-F 2016.
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