Africa-focused Kosmos Energy has indicated it will spend up to US $575 million this year on its deepwater capital projects.
Kosmos will target new development on the Tullow Oil-operated Jubilee field offshore Ghana, and further deepwater development at the TEN project to exploit the Tweneboa, Enyenra and Ntomme oil discoveries.
Ghana will claim up to two thirds of the spending planned by Kosmos this year, the company says.
Development and appraisal activity offshore Ghana will involve $400 million: “This includes funds for further development at Jubilee, including the remaining activities associated with the Phase 1A development, facility upgrades, and long-lead equipment and engineering for the next phase of development, as well as additional appraisal activities for the Mahogany, Teak and Akasa discoveries,” Kosmos stated. “The capital programme also provides funds for continued development at TEN.”
A further $175 million has been allocated for exploration: Kosmos will participate in two wells this year, one on the Eagle prospect on the Foum Assaka permit offshore Morocco, and a well on the Gargaa prospect in the Cap Boujdour contract area.
Also two large 3-D seismic programmes are planned, on the Tarhazoute Offshore block and the other in the Cap Boujdour area, both offshore Morocco. Tarhazoute covers 1.9 MM acres (733 sq miles), with water depths ranging from 990-2,500 m (3,250-8,200 ft). Cap Boujdour covers 7.3 MM acres (2,820 sq miles) with depths ranging from 50-3,000 m (165-9,850 ft). Both are operated by Kosmos.
At the end of 2013 Kosmos reported net reserves of 46.8 MMboe, including natural gas reserves of 1.8 MMboe. These were “...essentially unchanged from the previous year, which represents only the gas anticipated to be used for power generation on the Jubilee Floating Production, Storage and Offloading (FPSO) vessel,” Kosmos said.
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