British multinational oil company BP successfully acquired a majority stake in the offshore exploration blocks of Kosmos Energy in Senegal and Mauritania for $916 million.
Kosmos is to receive $162 million in cash, $221 million in exploration and appraisal costs and development costs of up to $533 million.
The company acquired a 62% stake in four blocks in Mauritania, covering blocks C6, C8, C12 and C13, and a 32.49% stake in two blocks in Senegal, covering the Saint Louis Offshore Profond and Caya Offshore Profond.
The two companies have agreed to work together on further explorations across the space.
It is estimated the blocks could contain as much as 50 trillion tcf of liquid gas and a billion barrels of oil.
This moves follows an acquisition by BP in Egypt's Zohr gas field in November.