Senegal’s national oil company, Petrosen, is targeting a final investment decision (FID) for the Yakaar-Teranga gas project by mid-2025, according to its director general, Thierno Ly.
The project, a joint venture between Petrosen and Kosmos Energy, holds an estimated 25 trillion cubic feet of recoverable gas.
The initial phase, projected to cost between $5 and $6 billion, is designed to produce three million tons of gas per annum for export markets.
Additionally, a provision of 150 million standard cubic feet of gas is allocated for domestic power and other projects.
Following BP’s withdrawal from the project late last year, Petrosen and Kosmos Energy are actively seeking additional partners.
The companies are exploring potential collaborations with international oil companies, national oil companies from the Middle East and Algeria, as well as trading companies.