BP PLC (BP.LN) said Monday that a major gas discovery at the Yakaar-1 exploration well offshore Senegal, has confirmed the potential scale of project.
The oil giant, along with joint venture partner Kosmos Energy Ltd. (KOS), said the Yakaar-1 exploration well was drilled to a total depth of 4,700 meters in nearly 2,550 meters of water in the Cayar Offshore Profond block by the Atwood Achiever drillship.
Continue Reading Below
"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," BP's Upstream Chief Executive Officer Bernard Looney said.
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.
BP shares at 1115 GMT up 3 pence, or 0.6%, at 454 pence, valuing the company at GBP89.38 billion.
Write to Razak Musah Baba at email@example.com; Twitter: @Raztweet
(END) Dow Jones Newswires
May 08, 2017 07:47 ET (11:47 GMT)