Gas Oil World News

Kosmos Energy makes huge gas discovery off Mauritania

Oil and gas explorer Kosmos Energy said on Monday it had made one of the largest discoveries of natural gas in recent years in waters offshore Mauritania, where it sees the potential to extract 50 trillion cubic feet of gas.

Kosmos Chief Executive Andrew Inglis said in view of the discovery at the Orca-1 well, Kosmos had decided to extend the timeline to sell down its interest in the area to next year.

“Orca-1, which we believe is the largest deepwater hydrocarbon discovery in the world so far this year, further demonstrates the world-scale quality of the Mauritania gas basin,” Inglis said in a statement.

The area off Mauritania and its neighbour Senegal in West Africa is one of the most-watched basins in the world for gas drilling and has attracted investments from companies such as Australia’s Woodside Energy and BP.

If exploited, such discoveries could transform the economies of both nations, bringing much-needed revenues.

Kosmos had planned to sell down its interest in the Mauritania-Senegal basin by the end of the year but it will extended its timeline to 2020, “giving potential bidders additional time to analyze the new data,” the company said.

The volume of gas potentially trapped in the area is equal to around 8.9 billion barrels of oil equivalent, which could make it one of the largest hydrocarbon discoveries in the world since Italy’s Eni discovered the 30 tcf Zohr gas field offshore Egypt in 2015

Related posts

China expresses regret over U.S. re-imposing sanctions on Iran

Editor

A’Ibom Govt. tasks ExxonMobil on improved budget for host community programmes

By Abisola THOMPSON

DPR intensifies surveillance on fuel stations in Sokoto, Kebbi states

By Abisola THOMPSON

DSS stops Kanu from signing letter for UK consular assistance —Lawyer

Our Reporter

NNPC may spend N201bn to clean 170.25m litres of dirty fuel

Our Reporter

UK court adjourns Ekweremadu’s case to Oct 31

Our Reporter