BP at present confirmed key settlement between the governments of Mauritania and Senegal, which is able to allow the event of the BP-operated Tortue/Ahmeyim fuel venture to proceed to maneuver in direction of a ultimate funding resolution, has been signed by the 2 governments.

The Inter-Government Cooperation Agreement (ICA) gives for improvement of the Tortue/Ahmeyim fuel subject by way of cross-border unitisation, with a 50%-50% preliminary break up of sources and revenues and a mechanism for future fairness redeterminations primarily based on precise manufacturing and different technical information.

The settlement was signed on Friday, Feb. 10 in Nouakchott, Mauritania by Mauritania Minister of Oil, Energy and Mines Mohamed Abdel Vetah and Senegal Minister of Petroleum and Energies Mansour Elimane Kane throughout a ceremony with President Mohamed Ould Abdel Aziz of Mauritania and President Macky Sall of Senegal.

Bernard Looney, BP Upstream chief government, commented: “This is a crucial milestone for this progressive fuel venture which displays the robust, cooperative partnership between Mauritania and Senegal. We look ahead to persevering with to work with each international locations and our companions, Kosmos Energy, Petrosen and SMHPM, in direction of a ultimate funding resolution.”

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Tortue/Ahmeyim fuel subject, with estimated sources of 15 Tcf of fuel, is positioned offshore on the border between Mauritania and Senegal.

BP has accomplished important engineering design in direction of the Tortue/Ahmeyim venture, an built-in fuel worth chain and near-shore liquefied pure fuel (LNG) improvement which might export LNG to international markets in addition to supplying fuel to Senegal and Mauritania.

Source: www.worldoil.com

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