Kosmos Energy Marks LNG Production Milestone at Greater Tortue Ahmeyim Project

Kosmos Energy Celebrates Milestone in LNG Production with Greater Tortue Ahmeyim Project

Kosmos Energy proudly acknowledges the recent announcement from bp plc marking the commencement of first gas production at the Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project, situated offshore between Mauritania and Senegal. This pivotal development signifies a substantial achievement for all stakeholders involved, as gas begins flowing from the first phase of the GTA project to a floating production storage and offloading (FPSO) vessel. The initiation of gas production not only highlights the project's progress but also sets the stage for future production increases, with GTA Phase 1 projected to deliver approximately 2.3 million tonnes of LNG annually, supported by a floating LNG vessel that can handle around 2.7 million tonnes per annum.

As the GTA project ramps up, Kosmos Energy's Chairman and CEO Andrew G. Inglis emphasizes that this milestone lays the groundwork for achieving their ambitious production target of roughly 90,000 barrels of oil equivalent per day (boepd), a goal set two years prior. The early stages of production are expected to commence in the first quarter of 2025, enabling Kosmos to start recognizing revenue from this strategic project. This development aligns with the company's broader operational strategy, which is focused on disciplined capital allocation and generating free cash flow. Such financial prudence is essential for Kosmos as it aims to decrease its debt leverage ratio to less than 1.5 times, thereby enhancing its financial stability and positioning itself for sustained growth.

In addition to the GTA project, Kosmos Energy remains committed to its full-cycle exploration and production model, particularly in deepwater settings across the Atlantic Margins. The company’s significant asset portfolio includes holdings in Ghana, Equatorial Guinea, and the U.S. Gulf of Mexico, underscoring its robust presence in key energy markets. Furthermore, Kosmos is dedicated to upholding ethical practices and sustainability, as reflected in its Business Principles and Sustainability Report, demonstrating a commitment not only to profitability but also to responsible resource management and community engagement.

Kosmos Energy’s strategic focus on the Greater Tortue Ahmeyim LNG project and its broader operational initiatives underscores its ambition to lead in the energy sector while fostering sustainability and financial resilience. As the first gas flows and revenue prospects materialize, Kosmos is poised for a promising future in the global energy landscape.