UPDATE 1-Senegal’s Petrosen expects final investment decision on gas project in 2025

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CAPE TOWN, Nov 5 (Reuters) – Senegal’s national oil company Petrosen expects a final investment decision (FID) on the Yakaar-Teranga gas project in 2025, its director general said on Tuesday.

“Yes, our objective is to have this FID by mid-2025 if everything is going OK,” Thierno Ly said.

Petrosen is partnering with Kosmos Energy to develop the project, which has around 25 trillion cubic feet of recoverable gas, he said.

The first phase of the project, expected to cost about $5-6 billion, will produce three million tons per annum for export markets and has a provision for 150 million standard cubic feet for domestic power and other projects.

Ly told Reuters the project’s partners were looking for more partners after BP opted out late last year.

“We are looking at IOCs (international oil companies), at national oil companies from the Middle East and Algeria. We are open also to discuss with trading companies,” he said. (Reporting by Wendell Roelf; Writing by Bhargav Acharya; Editing by Alexander Winning and Mark Potter)

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