Captainandy
2 years ago
#KOS: Kosmos Energy Provides Further Update on Greater Tortue Ahmeyim FPSO $5.63
https://www.kosmosenergy.com/
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09/27/22 06:00 GMT
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DALLAS--(BUSINESS WIRE)--Sept. 27, 2022-
Kosmos Energy (NYSE/LSE: KOS) (“Kosmos” or the “Company”) reported on September 15, 2022 that the floating production, storage and offloading vessel (“FPSO”) for the Greater Tortue Ahmeyim project (“GTA”) had drifted approximately 200 meters off the quayside following the impact of Typhoon Muifa.
Kosmos has been informed by BP, the operator of the GTA project, that the FPSO has been returned to the quayside of the COSCO shipyard in China.
Inspections conducted to date have not identified any significant damage. The forward plan is to complete all inspections and incorporate the findings into the remaining work scope prior to sailaway. Kosmos will give a further project update alongside its third quarter results in early November.
About Kosmos Energy
Kosmos is a full-cycle deepwater independent oil and gas exploration and production company focused along the Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and U.S. Gulf of Mexico, as well as a world-class gas development offshore Mauritania and Senegal. Kosmos is listed on the New York Stock Exchange and London Stock Exchange and is traded under the ticker symbol KOS. As an ethical and transparent company, Kosmos is committed to doing things the right way. The Company’s Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in our Corporate Responsibility Report. For additional information, visit www.kosmosenergy.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos’ estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos’ Securities and Exchange Commission (“SEC”) filings. Kosmos undertakes no obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by applicable law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
Management does not provide a reconciliation for forward looking non GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of our control or cannot be reasonably predicted. For the same reasons, management is unable to address the probable significance of the unavailable information. Forward looking non GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures.
https://investors.kosmosenergy.com/news-releases/news-release-details/kosmos-energy-provides-further-update-greater-tortue-ahmeyim
emdyal
2 years ago
2015 to Present Day – Continued Awards and Revived Exploration:
This is the most exciting period of exploration for the STP-EEZ, initiated by the award of Block 6 to Galp Energia in 2015, an agreement that included a 45% stake for Kosmos Energy, who earlier that year had farmed-in to Equator Explorations Block 12. Kosmos Energy then expanded its block licence footprint in 2017 by farming-in to Block 5, taking over the operatorship from Equator Exploration, followed a year later by their farm-in to Block 11, to take over all licence rights from ERHC. The latter agreement saw Kosmos partner with Galp Energia, with whom they already held a partnership in neighbouring Block 6. In 2018 Kosmos Energy completed its most recent activities by licensing, together with BP, Blocks 10 and 13 before the acquisition of extensive 3D seismic surveys with a focus over the eastern blocks.
Why São Tomé and Príncipe is a Hot Oil and Gas Exploration Area
The PGS MultiClient data library over the region now includes the 2D survey acquired for ExxonMobil in 1999, together with the later 2D seismic, gravity and magnetic surveys acquired by PGS in 2001 and 2005. These three surveys have recently been reprocessed as a coherent dataset to allow seamless interpretation. In addition, the PGS MultiClient library contains the well data from Ubabudo-1 together with the eight exploration wells and one appraisal well drilled in the JDZ waters.
The interpretation of these data along with industry feedback have indicated that there are four key reasons for the recent interest in the area.
emdyal
3 years ago
In a statement sent to the editors of Téla Nón, the National Petroleum Agency reports on the start of drilling operations for the oil well designated JACA in the exclusive economic zone of São Tomé and Príncipe.
Located in block 6, the Jaca well is the first to be drilled in the country’s exclusive economic zone.
The National Petroleum Agency says that the Maersk Voyager drillship, which is carrying out the drilling, entered Sao Tome’s territorial areas on 24 April.
«The Portuguese navy patrol vessel Zaire, which is on a maritime training mission for the São Tomé and Príncipe coast guard, accompanied the Maersk Voyager drillship to the location of the Jaca well», says the National Petroleum Agency.
The drilling operation of the Jaca well started on the 25th of April. «The drilling campaign started on April 5, 2022 and operations are taking place within normal limits», guarantees the National Petroleum Agency.
In the statement, the National Petroleum Agency cites the statements of Luís Gamboa, the newly appointed director general.
«The beginning of the drilling and exploration of the Jaca well marks an important stage because it will allow, for the first time, the collection of more accurate information about our ZEE », said the general manager Luís Gamboa.
The JACA well in block 6 is being explored by the consortium made up of Galp, Shell and the National Petroleum Agency on behalf of the São Tomé State.
According to Luís Gamboa, the consortium’s priority is «is the safe execution of Jaca operations to achieve well objectives and collect quality data for its assessment», reinforced.
Searching for oil in the exclusive economic zone of São Tomé and Príncipe through the drilling of the JACA well will take about 3 months.
Abel Veiga
The reader has access to the full content of the National Petroleum Agency communiqué –
emdyal
3 years ago
HOUSTON, TX--(Marketwired - Oct 20, 2015) - ERHC Energy Inc. (OTC PINK: ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, announced today that it has reached an agreement with Kosmos Energy (NYSE: KOS), a leading independent oil and gas exploration and production company focused on frontier and emerging areas to transfer all ERHC's rights to Block 11 of the São Tomé and Principe Exclusive Economic Zone (EEZ) to Kosmos. The agreement has been approved by the National Petroleum Agency of Sao Tome & Principe ("ANP-STP") as required in the requisite Production Sharing Contract ("PSC") for EEZ Block 11.
"Given the difficult global environment for doing deals, particularly for deep-offshore assets in frontier areas, we are very pleased to have concluded the agreement with Kosmos," said ERHC President and CEO Peter Ntephe. "The agreement enables us to immediately monetize one of our offshore holdings while preserving a financial upside in the event that exploration in Block 11 is successful."
ERHC retains 100 percent of the rights to EEZ Block 4 as well as the option to take up to a 15 percent working interest in each of two other unlicensed EEZ blocks of its choice. ERHC and the ANP-STP have agreed in principle to terms of a PSC for Block 4. In Kenya, ERHC holds a 35 percent interest in Block 11A, where the first exploration well is expected to be spudded toward the end of the first quarter of 2016. In Chad, ERHC is accepting tender proposals for a 2-D seismic acquisition program for Block BDS 2008.
ERHC also has interests across several oil blocks in the Nigeria -- São Tomé and Príncipe Joint Development Zone (JDZ).
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