Kosmos Energy has reaffirmed that Senegal has no intention of nationalizing the Yakaar Teranga gas field, bringing clarity after mixed interpretations of recent government comments. The company issued the assurance following consultations with Senegal’s energy authorities, according to Reuters.
The country’s energy ministry clarified that earlier remarks suggesting possible nationalization did not reflect official policy and were misinterpreted. The ministry restated its commitment to maintaining a cooperative investment environment and described Kosmos as a long-term strategic partner, as highlighted by Energy Intelligence reporting.
Kosmos currently holds a 90 percent operating stake in the offshore field, while state owned Petrosen retains the remaining 10 percent. Both partners are also working to bring in an additional investor as the licence for the block approaches its July 2026 expiry, according to statements cited by Reuters.
With an estimated 25 trillion cubic feet of recoverable gas, Yakaar Teranga is considered one of West Africa’s most valuable undeveloped resources. Kosmos noted that it will continue to collaborate closely with Petrosen and the Senegalese government as development plans advance and discussions on licence terms continue.
