Ghana Ratifies Kosmos Energy's Jubilee, TEN Field License Extensions

The Ghanaian parliament has formally ratified license extensions for the West Cape Three Points and Deepwater Tano Petroleum Agreements, covering the Jubilee and TEN fields, until 2040. This development is expected to attract up to $2 billion in incremental investment to Ghana and provide higher volumes of gas for domestic power generation. Kosmos Energy, a key player in these fields, anticipates an increase in Jubilee 2P reserves with plans for up to 20 additional wells. The J74 well at Jubilee is now fully ramped up, contributing to over 70,000 bopd in February. The partnership at the TEN fields has also signed an agreement to acquire the FPSO vessel for $205 million, aiming for operating expense reductions from 2026. Additionally, Kosmos Energy reported strong performance from the Greater Tortue Ahmeyim LNG project and successfully completed a $350 million Norwegian bond offering, using part of the proceeds to repay borrowings and repurchase notes, while also hedging 2027 production.