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BP to acquire stakes in West Africa licenses from Kosmos Energy

BP has signed a deal to acquire licenses in West Africa from Kosmos Energy. The two companies will also be partners in an exploration collaboration covering new potential ventures.

Photo: BP/PR

BP Plc agreed to buy stakes in West African licenses held by Kosmos Energy Ltd. for USD 916 million to expand in deep-water drilling and natural gas.

BP will be named operator and acquire a 62 percent working interest in licenses at four blocks off Mauritania, as well as an effective 32.49 percent interest in permits at two blocks off Senegal, the companies said Monday. Kosmos will maintain 28 percent and 32.51 percent of the Mauritanian and Senegalese licenses, respectively, and will remain exploration operator.

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