BP: Mauritania-Senegal Agreement Important Milestone for Gas-Field Project
February 12 2018 - 4:42AM
Dow Jones News
By Oliver Griffin
BP PLC (BP.LN) said on Monday that an agreement between
Mauritania and Senegal, signed on Feb. 10, will enable the
development of the Tortue/Ahmeyim gas field, where BP has a
majority interest.
The field, which holds an estimated 15 trillion cubic feet of
gas, sits offshore on the border between the two African
nations.
BP said that the Inter-Government Cooperation Agreement signed
by the countries will see a fifty-fifty split of resources and
revenues, as well as a mechanism for future equity redeterminations
based on actual production and other technical data.
Bernard Looney, BP's upstream Chief Executive, said the
agreement was an important milestone for the project.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
February 12, 2018 04:27 ET (09:27 GMT)
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