The EPC contract completion marks a major win in expanding Eiffage ’s scope of business into Western Africa beyond its traditional European seaport and maritime project stronghold. But for project operator and majority shareholder bp, this latest win marks a tremendous vote of confidence for the ambitious project timeline set out following pandemic setbacks.
As one of Africa’s deepest hydrocarbon extraction operations, GTA is a technically sophisticated and challenging project, made more so by the panoply of political partnerships required of the company simply to greenlight works for the transnational development- half in Senegal, half in Mauritania.
Never-the-less, bp appears fully on track for first production late next year as planned, the higher GTA LNG venture targeting an initial 2.5 million tons per annum LNG output volume. The Valaris DS-12 rig is already at work drilling its four-well series for the project from April until December this year, and as of 2022’s first quarter, the GTA development was announced as 75% complete. By the close of Q4, bp and its partner Kosmos expect to have all major structures, pipelines and construction in place. And this newfound internal and investor confidence has brought to light further news. In a recent interview, local project advisor Mamadou Fall Kane confirmed that government support is behind a final investment decision being reached by bp and Kosmos by September this year for the GTA project’s second stage, doubling its expected output. With GTA currently costing close to $5 billion, this fresh investment decision looming has the potential to seal Senegal and Mauritania world-class standing in global hydrocarbons and transform their respective economies, the former already expecting to see GDP growth crossing 10% next year.
In September, as bp and Kosmos line up their GTA stage two FID, Senegal will play host to the MSGBC Oil, Gas & Power Conference 2022, convening regional ministers and heads of state, multinational execs and NOC heads, along with international investors from across Africa, Europe, Asia, America, Australia and the Middle East to write the future of African power that develops Africa. With every one of the MSGBC basin nations launching fresh offshore licensing rounds and megadevelopments like GTA- several even larger- in the pipelines, this year is pivotal for West Africa’s energy sector, which in its rapid rise to prominence is seeing unprecedented interest from global stakeholder parties. The event will in fact see bp and partners present in progress and future intent with respect to the Greater Tortue Ahmeyim project, providing valuable strategic insights to the hundreds of high-level delegates in attendance. To register for this one-of-a-kind opportunity and attend, visit https://msgbcoilgasandpower.com/.