BP's GTA Project Hits New Milestone as Gimi FLNG Reaches COD

BP plc BP, the British oil and gas giant, has reached a milestone for its Greater Tortue Ahmeyim (“GTA”) project with the beginning of commercial operations by Golar LNG’s floating liquefied natural gas (FLNG) unit. The GTA project is operated by BP with a 56% working interest. Other partners in this project are Kosmos Energy, Petrosen, and SMH, holding 27%, 10%, and 7% interest, respectively.

Gimi FLNG Reaches Commercial Operations Date

Golar LNG’s Gimi FLNG has reached Commercial Operations Date for the GTA project under a 20-year lease and operate agreement. This agreement implies that the Gimi FLNG unit will be leased out to BP for the project. The FLNG unit has begun commercial operations, and the production of liquefied natural gas (“LNG”) has been raised to a level of approximately 2.4 million tons per annum (mtpa). This is equivalent to 90% of the FLNG unit’s nameplate capacity. Furthermore, the current production level is equivalent to the annual contracted level of supply under long-term agreements.

Key Milestones

The GTA project has achieved several milestones in 2025. The first LNG from the project was produced in February. The first LNG cargo from the GTA project was exported in April, followed by the second and third in May and early June, respectively. The fourth cargo is currently loading and shall be exported shortly. Based on the current schedule, Kosmos Energy estimates that the project will export 3.5 gross cargoes in the June-end quarter.

Golar LNG stated that it looks forward to working with BP and other partners in the GTA project, along with Mauritanian and Senegalese authorities, to continue reliable operations and create value for all the stakeholders involved in the project. The GTA project is situated offshore Mauritania and Senegal. This is one of the deepest African offshore developments, with water depths of up to 2,850 meters.

BP's Zacks Rank & Key Picks

BP currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the energy sector are Flotek Industries Inc. FTK, Subsea7 S.A. SUBCY, and Oceaneering International OII. While both Flotek Industries and Subsea7 sport a Zacks Rank #1 (Strong Buy) at present, Oceaneering International carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Flotek Industriesspecializes in green chemistry, which provides innovative solutions aimed at reducing the environmental impact of the energy industry. Flotek develops specialty chemicals tailored for both domestic and international energy producers, as well as oilfield service companies. These chemicals not only help reduce the environmental impact of hydrocarbon production but also lower operational costs.

Subsea 7 helps build underwater oil and gas fields. It is a leading player in the offshore energy industry worldwide and is engaged in providing engineering, construction, and related services at offshore oil and gas fields. The long-term outlook for energy demand remains positive, and Subsea7’s focus on cost-efficient deepwater projects strengthens the position of its subsea business.

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