The governments of Mauritania and Senegal signed an inter-governmental cooperation agreement (ICA) Feb. 9 allowing the development of cross-border Tortue natural gas field to continue. With the agreement in place, a final investment decision is expected by yearend with start of gas production expected in 2021.
BP PLC in August let a 6-month pre-FEED contract for Tortue to KBR Inc. (OGJ Online, Aug. 17, 2017).
The ICA agreement provides for a 50-50 initial split of resources and revenues and a mechanism for future equity redeterminations based on actual production and other technical data.
Equity interests
Mauritania | Senegal | Tortue Unit | ||||
Kosmos | 28% | 30% | 29% | |||
BP | 62% | 60% | 61% | |||
Petrosen | N/A | 10% | 5% | |||
SMHPM | 10% | N/A | 5% |