Kosmos Energy: Difference between revisions

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Kosmos and [[Chevron Corporation|Chevron]] reached a deal in June 2012, where subsidiary Chevron Global Energy Inc. received a 50% working interest in Block 45 and Block 42 in Suriname, to boost operations.<ref name="OET20062012">{{cite news |url=http://www.offshoreenergytoday.com/chevron-acquires-offshore-suriname-acreage/ |title=Chevron acquires offshore Suriname acreage |date=20 June 2012 |publisher=OffshoreEnergyToday.com |accessdate=10 July 2017}}</ref> In May 2016, Kosmos reached a farm-out agreement with a subsidiary of [[Hess Corp.]], wherein Hess acquired a 33% non-operated interest in Block 42 from Kosmos and Chevron.<ref name="OffshoreMag04052016">{{cite news |url=http://www.offshore-mag.com/articles/2016/05/hess-farms-into-block-42-offshore-suriname.html |title=Hess farms into block 42 offshore Suriname |date=4 May 2016 |publisher=Offshore-Mag.com |accessdate=10 July 2017}}</ref>
 
Kosmos began a controversial oil drilling project in the [[Cape Bojador]] area in 2014 off the coast of the disputed territory of Western Sahara.<ref name="Milne16">{{cite news |title=Norway oil fund drops investment in Cairn and Kosmos |last1=Milne |first1=Richard |last2=Stacey |first2=Kiran |url=https://www.ft.com/content/3ed3be5a-3d19-11e6-8716-a4a71e8140b0?mhq5j=e1 |newspaper=[[Financial Times]] |date=28 June 2016 |accessdate=10 July 2017 |url-access=subscription}}</ref> In an article from February 2015, former UN legal counsel Hans Corell stated that exploration activities by Kosmos and [[Glencore]] were in violation of the legal opinion he wrote for the UN Security Council.<ref>{{cite news|title=The Responsibility of the UN Security Council in the Case of Western Sahara|url=http://www.judicialmonitor.org/current/specialcommentary.html |accessdate=29 March 2015|publisher= International Judicial Academy}}</ref> Kosmos responded that its operations complied with international law and were consistent with the UN opinion.<ref name="Milne16"/><ref name="Noueihed14">{{cite news |title=Simmering Saharan conflict stirred by offshore oil search |last1=Noueihed |first1=Lin |url=https://www.reuters.com/article/westernsahara-oil-idUSL6N0KN1I120140113 |work=[[Reuters]] |date=13 January 2014 |accessdate=11 July 2017}}</ref> Kosmos officials also told media it recognized that its work in the area must occur alongside UN-led mediation.<ref name="Noueihed14"/><ref name="Liljas14">{{cite news |title=There's a New Terrorist Threat Emerging in Western Sahara, and the World Isn't Paying Attention |last1=Liljas |first1=Per |url=httphttps://time.com/3085464/theres-a-new-terror-threat-emerging-in-western-sahara-and-the-world-isnt-paying-attention/ |newspaper=[[Time (magazine)|Time]] |date=8 August 2014 |accessdateaccess-date=20 July 2017}}</ref><ref name="Landers13">{{cite news |title=A Dallas company could help diplomacy by finding oil in Western Sahara |last1=Landers |first1=Jim |url=https://www.dallasnews.com/business/health-care/2013/12/02/a-dallas-company-could-help-diplomacy-by-finding-oil-in-western-sahara |newspaper=[[The Dallas Morning News]] |date=December 2013 |accessdate=20 July 2017}}</ref>
 
The company said local populations in Western Sahara would benefit from the economic development of the region.<ref name="Noueihed14"/><ref name="Liljas14"/> A Kosmos official told ''Reuters'', "If we are successful, we believe responsible resource development has the potential to create significant social and economic benefits for Western Sahara and its people. We have worked in close partnership with Morocco — as the ''de facto'' administering power of the territory. They have a vital role to play in ensuring benefit sharing, among other important issues, will happen should we be successful".<ref name="Noueihed14"/>
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Senegal and Mauritania signed a cooperation agreement to allow for Kosmos and BP to develop gas resources shared by the two counties in February 2018.<ref name="Bavier18">{{cite news |title=Senegal, Mauritania agree to cooperate on giant offshore gas field |last1=Bavier |first1=Joe |work=[[Reuters]] |url=https://www.reuters.com/article/senegal-mauritania-gas/senegal-mauritania-agree-to-cooperate-on-giant-offshore-gas-field-idUSL8N1PZ6OY |date=9 February 2018 |accessdate=23 September 2019}}</ref> BP and Kosmos made a final investment decision on the Tortue project in December 2018, leading to the first phase of the Tortue LNG development.<ref name="Tortue-Go">{{cite news |title=BP gives go-ahead to Tortue investment in Africa LNG push |work=Gulf Times |url=https://www.gulf-times.com/story/617654/BP-gives-go-ahead-to-Tortue-investment-in-Africa-L |date=27 December 2018 |accessdate=23 September 2019}}</ref>
 
Kosmos Energy acquired Deep Gulf Energy, expanding Kosmos' oil and gas operations into the [[Gulf of Mexico]], in August 2018.<ref name="French18">{{cite news |title=Kosmos Energy expands into Gulf of Mexico with $1.23 billion DGE buy |last1=French |first1=David |work=[[Reuters]] |url=https://uk.reuters.com/article/us-dge-m-a-kosmos-energy/kosmos-energy-expands-into-gulf-of-mexico-with-1-23-billion-dge-buy-idUKKBN1KR0J4 |archive-url=https://web.archive.org/web/20180806093107/https://uk.reuters.com/article/us-dge-m-a-kosmos-energy/kosmos-energy-expands-into-gulf-of-mexico-with-1-23-billion-dge-buy-idUKKBN1KR0J4 |url-status=dead |archive-date=August 6, 2018 |date=6 August 2018 |accessdate=23 September 2019}}</ref><ref name="TOGY18">{{cite news |title=Kosmos in Gulf of Mexico acquisition |work=The Oil & Gas Year |url=https://www.theoilandgasyear.com/news/kosmos-in-gulf-of-mexico-acquisition/ |date=18 September 2018 |accessdate=23 September 2019}}</ref> In December 2018, Kosmos was reincorporated in [[Delaware Corporation|Delaware]].<ref>{{Cite web|url=https://www.sec.gov/Archives/edgar/data/1509991/000150999119000063/kos-12312018x10k.htm|title=2018 Form 10-K|date=2018-12-31|website=Securities and Exchange Commission}}</ref> Previously, it was incorporated in [[Bermuda]].<ref name="10K2016P-1">{{cite web|url=http://www.kosmosenergy.com/annualreport/2016/?page=8|title=2016 Form 10-K|work=2016|publisher=Kosmos Energy|accessdate=11 July 2017}}</ref>
 
==Operations==
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===Other African countries===
Kosmos had ownership interests in six blocks offshore Sao Tome and Principe, including two blocks where Kosmos partnered with BP.<ref name="Bavier-SaoTome">{{cite news |title=BP, Kosmos win rights to two oil blocks in Sao Tome and Principe |last1=Bavier |first1=Joe |work=[[Reuters]] |url=https://uk.reuters.com/article/uk-saotome-oil/bp-kosmos-win-rights-to-two-oil-blocks-in-sao-tome-and-principe-idUKKBN1FC138 |archive-url=https://web.archive.org/web/20180123103906/https://uk.reuters.com/article/uk-saotome-oil/bp-kosmos-win-rights-to-two-oil-blocks-in-sao-tome-and-principe-idUKKBN1FC138 |url-status=dead |archive-date=January 23, 2018 |date=23 January 2018 |accessdate=23 September 2019}}</ref> In 2018, Kosmos announced it would explore a number of blocks offshore with [[Royal Dutch Shell]].<ref name=Namibia-SaoTome/> Shell purchased five of the Kosmos blocks in 2020.<ref name="Shell">{{cite news|title=Kosmos Sells Frontier Interests to Shell in $100-Million Deal| url=https://jpt.spe.org/kosmos-sells-frontier-interests-shell-100-million-deal| work=Journal of Petroleum Technology|date=September 8, 2020|access-date=May 25, 2022}}</ref> As of 2022 Kosmos continues to have an interest in Block 5 in Sao Tome.<ref name="STP">{{cite news |title=Shell, Galp spud well offshore Sao Tome|url=https://www.energyvoice.com/oilandgas/africa/ep-africa/408323/sao-tome-galp-jaca/| work=Energy Voice|date=March 5, 2022|access-date=May 25, 2022}}</ref><ref name="Farm Down">{{cite news|title=Kosmos closes farm down of exploration assets to Shell
|url=https://www.offshore-energy.biz/kosmos-and-shell-close-farm-down-of-exploration-assets/ | last=Kulovic|first=Nermina|work=Offshore Energy| date=December 10, 2020|access-date=May 26, 2022}}</ref>
 
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[[Category:Mining in Ghana]]
[[Category:Warburg Pincus companies]]
[[Category:Blackstone Inc. companies]]