BP Invests in Mauritania and Senegal Gas Projects

British energy major BP on Monday ramped up its presence in Africa with the purchase of stakes in gas projects in Mauritania and Senegal. 
BP said in a statement that it has agreed to acquire holdings in licenses held by Kosmos Energy for a total of $916 million (876 million euros). 
The London-listed group will buy a 62-percent interest in Kosmos' exploration blocks in Mauritania and a 32.49% share in its Senegal exploration blocks, AFP reported. 
BP will take a 62% stake in Kosmos Energy's gas prone Mauritanian exploration blocks plus a 32.49% effective working interest in Kosmos’ Senegal exploration blocks - totaling some 33,000sq km. The acreage could contain about 50 trillion cubic feet of gas.