Business
Senegal discovers significant quantity of natural gas
As Senegal begins drilling its newly-found oil reserves, a “significant quantity” of natural gas deposits have also been discovered in the north of the country.
Kosmos Energy – an oil and gas exploration and production company – announced the gas deposits last week.
According to the announcement, the gas deposits were located at an exploration site called Guembeul-1 which lies offshore of the northern city of Saint-Louis, about 30 km (19 miles) from the capital Dakar.
Kosmos Energy will take 60 percent of the proceeds from the Guembeul-1 site while an associate company called Timis corporation and Senegal will take the remaining 40 percent.
This arrangement had been agreed upon for the initial, unspecified period.
Kosmos Energy has also been cleared to explore for more offshore gas in other parts of the country after it signed an agreement with Senegal two years ago.