US-based Kosmos Energy on January 28, 2013 announced it plans to spend an amount of $525 million on its 2013 operations globally and over-half of the investment has been allocated for Ghana.
The 55% Ghana allocation, according to Kosmos, will be used for offshore development activities in the country while the remaining 45% is for exploration and appraisal activities across the explorer’s global exploration portfolio.
“Development activities offshore Ghana comprise approximately 55% of the total anticipated amount, with the remaining 45 percent allocated for exploration and appraisal activities across Kosmos’ global exploration portfolio,” said Kosmos in its 2013 capital programme.
The company’s Chief Executive Officer, Brian Maxted stated that Kosmos’ plans for the year include “advancing the development of the world-class Jubilee field, as well as further progressing our other discoveries offshore Ghana.”
Kosmos’ estimated development programme, which totals approximately $290 million, includes funds for further development at Jubilee, with the majority relating to the ongoing implementation of Phase 1A at the field, it added.
The company also indicated that its 2013 capital programme provides funds for the initiation of development at Tweneboa, Enyenra, and Ntomme (TEN), as well as additional appraisal activities and development studies for Mahogany, Teak, and Akasa, all in Ghana.
Kosmos said the TEN plan of development, which represents its second major project development, has been submitted to the government of Ghana and is awaiting approval.
The company hinted that the final drilling and completion of all Jubilee Phase 1A production and water injection wells will be done by the middle part of 2013.
Kosmos estimates that Ghana’s Jubilee field production will average between 105,000 and 115,000 barrels of oil per day in 2013.
By Ekow Quandzie
WHEN ARE THEY GOING TO LIST ON GSE, SOONER THE BETTER