Kosmos doubles down on Eq Guinea

MALABO, October 24, 2017 – Kosmos Energy and Trident Energy will acquire Hess Corporation’s stake in the offshore Ceiba and Okume oilfields, Kosmos announced Monday.

A JV between the two companies will take Hess’ 80.75% stake in both of the producing fields, which are located offshore Rio Muni, when the sale is finalised by end-2017.

“Kosmos Energy brings a new sense of action and commitment to the Ceiba and Okume fields. We are delighted to welcome our new partners as investors and producers, as well as explorers in blocks S, W and EG-21 in the same region. This deal is nothing less than historic, and shifts focus towards the hugely promising Rio Muni basin,” Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima said.

The announcement came the same day as Kosmos Energy signed three PSCs with the Ministry of Mines and Hydrocarbons of Equatorial Guinea and GEPetrol for the S, W and EG-21 blocks.

Hess operated the Ceiba and Okume fields for nearly 20 years. Ceiba began producing in 2000 and Okume in 2006.

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