British major BP will target a final investment decision (FID) in Q4 2022 on Phase 2 of its Greater Tortue Ahmeyim (GTA) liquefied natural gas development offshore Mauritania and Senegal.
BP operates the project, alongside partners Kosmos Energy and the governments of Senegal and Mauritania.
The decision follows the success to date of the first phase of the project, which reached FID in December 2018 and is expected to produce 2.5 million tons per year of LNG and 70 million cubic feet of natural gas per day,
“The strong progress with Phase 1 is enabling the advancement of Phase 2 towards final investment decision, which is targeted for the end of 2022,” said a representative from Kosmos Energy. “Kosmos continues to collaborate with operator BP and the national oil companies of Mauritania and Senegal on a more capital efficient project, which leverages the infrastructure built in Phase 1 to reduce costs and enhance the returns of future phases.”
The project has encountered some delays due to COVID-19, including an associated six-month force majeure that affected resource mobilization, constructions and installations. As a result, first production has been delayed by one year to 2023 and Phase 1 will carry an estimated cost of four billion dollars, a $300-million increase from previous estimates.
The GTA development involves the production of gas from an ultra-deepwater subsea system and mid-water floating production, storage and offloading unit on the continental shelf.