Offshore Senegal Deal Looms for Petrosen

Senegal's state owned hydrocarbon firm Petrosen is set to sign a $400 million "farm-in" agreement with Kosmos Energy and Timis Corp regarding its Cayar and St. Louis offshore blocks, a draft document seen by Reuters on Saturday showed.

According to the document, Kosmos has committed to drill two exploration wells up to a total value of $240 million. It will then drill a third well, or alternatively a first appraisal well, to a value of another $120 million.

Reporting by Diadie Ba