PM Ousmane Sonko said talks to nationalise the Yakaar-Teranga gas project, operated by Kosmos Energy (KOS.N) were nearly concluded and Senegal would retake the block at no cost in the coming weeks. Kosmos Energy, which has a 90% stake, became the operator of the Yakaar-Teranga gas field in 2023 after BP has announced its exit.
Kosmos said in an email it was withdrawing from the block and that its licence expires in July 2026. “We have not been able to attract a suitable partner and agree a commercially attractive development concept with the government of Senegal,” Kosmos spokesman Thomas Golembeski said.
Sonko did not share updates on Australia’s Woodside Energy (WDS.AX) which operates Senegal’s Sangomar oil and gas field. Senegal became an oil-producing nation when the Sangomar field began production in June 2024.
Sonko said the government has also cancelled the licences of several blocks such as Diender Offshore, Differe, Cayar Offshore Shallow, St Louis Offshore Shallow and Rufisque Offshore. He said the government was discussing the resizing of blocks, as the previous perimeters were too vast and did not meet international best practices.
Reuters
