Kosmos Energy secures new exploration licenses offshore Suriname

Texas-based oil explorer Kosmos Energy on December 14, 2011 announced that it has executed two Production Sharing Contracts with Staatsolie Maatschappij Suriname N.V. – the national oil company of Suriname, for Blocks 42 and 45 offshore Suriname.

“Combined, the two blocks cover an area of nearly 3 million gross acres, in water depths of between 650 and 8,500 feet. Block 42 is an area of over 1.5 million acres and block 45 is approximately 1.3 million acres,” Kosmos said on its website.

The company said neither of the blocks has previously been drilled and it plans to acquire a 3D seismic data in the initial exploration phase under each of the contracts.

First drilling will take place early 2014, said Kosmos which will be operator of both blocks with a 100% working interest.

This is Kosmos’ first acreage acquisition outside West Africa.

In a related development, Kosmos Energy has also announced that it has entered into a Reconnaissance Contract for the Tarhazoute Block offshore the Kingdom of Morocco.

Covering 1.9 million gross acres in water depths of between 3,250 and 8,200 feet, the Tarhazoute Block is located offshore in the Agadir basin immediately between the Company’s Essaouira and Foum Assaka Blocks.

With a 100% working interest owned by Kosmos, the Reconnaissance Contract has a one-year term, after which the Company has the right to enter into a petroleum agreement for the acreage.

By Ekow Quandzie

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