Kosmos enters Eq Guinea with 3 PSCs

Kosmos Energy and Trident Energy signed three PSCs with the Ministry of Mines and Hydrocarbons of Equatorial Guinea and NOC GEPetrol on Monday.

Kosmos and Trident each will take a 40% stake in the 2,495-square-kilometre Block EG-21, the 1,245-square-kilometre Block S and the 2,254-square-kilometre Block W. GEPetrol will hold the remaining 20%. The first exploratory period will last three years and requires seismic acquisition while the second two-year phase requires an exploratory well be drilled. Two possible one-year extensions to the exploratory phase require additional seismic and another well. 

“Kosmos Energy has demonstrated extraordinary and consistent success in frontier exploration projects in West Africa. We trust Kosmos will bring important knowledge and technology to Equatorial Guinea, an established oil and gas producer in Africa with proven potential,” Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima said. “We look forward to working with Kosmos as we continue to push the boundaries in oil and gas exploration.”

The blocks were awarded in June 2017, as part of the Ronda 2016 licensing round.