$400 million is going to be invested by Kosmos Energy in its Ghana projects this year as a means to adhere to commitments to the West African nation’s Jubilee oil field and other projects. The CEO stated that this investment covers their obligation to the remaining of the Jubilee expansion and also the new Tweneboa, Enyera and Ntomme fields (TEN) project.
Kosmos Energy forms part of The New York-listed and the company embraces a 24.1% stake in Ghana’s Jubilee field. In December 2010 this field began pumping oil and has hit production of, over last 3 months, between 110,000 and 115,000 barrels per day. Kosmos possesses 19% of the TEN project which in 2016 is expected to pump its first oil.
Kosmos Energy just held the induction of the business’s fresh office building in Accra, with the budget going towards the funding of the firm’s Mahogany, Teak and Akasa oil fields project.
Kosmos Energy’s commercial manager Philip Liverpool expressed that the company had postponed tactics to list on the Ghana Stock Exchange until further notice. The company had proclaimed in 2011 it would grade on the bourse to raise $50 million.