First gas achieved at Greater Tortue Ahmeyim LNG project, offshore West Africa

Kosmos Energy notes the announcement from bp plc (operator) that first gas production has been achieved at the Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project offshore Mauritania and Senegal.

On December 31, 2024, gas from the first phase of GTA started to flow from wells to the floating production storage and offloading (FPSO) vessel ahead of delivery to the floating LNG vessel for liquefaction. Once fully commissioned, GTA Phase 1 is expected to produce around 2.3 million tonnes of LNG per annum (mtpa) with the floating LNG vessel nameplate capacity of approximately 2.7 mtpa.

First gas is a key milestone for the partnership and the governments of Mauritania and Senegal and an important step for the countries to become a strategic LNG production hub in West Africa. First LNG production is expected to follow shortly with the first LNG cargo expected in the first quarter of 2025, which is when we start to recognize revenue from the project.

“Achieving first gas sets the stage for us to ramp up production and reach the ~90,000 boepd production target we set two years ago,” said Kosmos CEO and Chairman Andrew G. Inglis. “With our key growth projects largely delivered and capex falling, Kosmos is well positioned going into 2025. The company remains focused on disciplined capital allocation and the generation of free cash flow that enables us to pay down debt, reduce leverage to less than 1.5x, and enhance the financial resilience of the company.”