KOSMOS ENERGY ANNOUNCES FIRST
LNG AT THE GREATER TORTUE AHMEYIM
PROJECT IN MAURITANIA AND
SENEGAL
DALLAS, Texas, February 10, 2025 - Kosmos Energy
(NYSE/LSE: KOS) today announces that first
liquified natural gas (LNG) production has been achieved at the
bp-operated Greater Tortue Ahmeyim (GTA) LNG project, offshore
Mauritania & Senegal.
On December 31, 2024, gas from the
first phase of GTA started to flow from wells to the floating
production storage and offloading (FPSO) vessel as part of the
commissioning process. At the FPSO, gas is being processed to
remove any condensate, water and impurities ahead of delivery to
the floating LNG vessel for liquefaction.
Gas has now been delivered to the
floating LNG vessel and liquefaction has commenced. The
liquefaction of gas into LNG is when Kosmos starts to recognize gas
entitlement production from the project in its quarterly
statements. In addition, bp has given notice to the offtaker
(bp gas marketing ltd.) for an LNG carrier to arrive later this
quarter to export the first LNG cargo. Lifting of the first LNG
cargo is when Kosmos starts to recognize revenue and generate cash
flow from the project.
Commenting on first LNG production at GTA, Chairman
and Chief Executive Officer Andrew G. Inglis said: "First LNG is another major milestone for Kosmos, the GTA
partnership and the governments of Mauritania and Senegal. We are
looking forward to the accelerated ramp-up of LNG production and
the first LNG cargo lifting during the first quarter."
About Kosmos
Energy
Kosmos Energy is a leading deepwater exploration and
production company focused on meeting the world's growing demand
for energy. We have diversified oil and gas production from key
assets offshore Ghana, Equatorial Guinea, Mauritania, Senegal and
the U.S. Gulf of Mexico. Additionally, in the proven basins where
we operate we are advancing high-quality development opportunities,
which have come from our exploration success. Kosmos is listed on
the New York Stock Exchange and London Stock Exchange and is traded
under the ticker symbol KOS. As an ethical and transparent company,
Kosmos is committed to doing things the right way. The Company's
Business Principles articulate our commitment to transparency,
ethics, human rights, safety and the environment. Read more about
this commitment in the Kosmos Sustainability Report. For additional
information, visit www.kosmosenergy.com.
Forward-Looking
Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934. All
statements, other than statements of historical facts, included in
this press release that address activities, events or developments
that Kosmos expects, believes or anticipates will or may occur in
the future are forward-looking statements. Kosmos' estimates and
forward-looking statements are mainly based on its current
expectations and estimates of future events and trends, which
affect or may affect its businesses and operations. Although Kosmos
believes that these estimates and forward-looking statements are
based upon reasonable assumptions, they are subject to several
risks and uncertainties and are made in light of information
currently available to Kosmos. When used in this press release, the
words "anticipate," "believe," "intend," "expect," "plan," "will"
or other similar words are intended to identify forward-looking
statements. Such statements are subject to a number of assumptions,
risks and uncertainties, many of which are beyond the control of
Kosmos, which may cause actual results to differ materially from
those implied or expressed by the forward-looking statements.
Further information on such assumptions, risks and uncertainties is
available in Kosmos' Securities and Exchange Commission ("SEC")
filings. Kosmos undertakes no obligation and does not intend to
update or correct these forward-looking statements to reflect
events or circumstances occurring after the date of this press
release, except as required by applicable law. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this
cautionary statement.
Management does not provide a reconciliation for
forward looking non GAAP financial measures where it is unable to
provide a meaningful or accurate calculation or estimation of
reconciling items and the information is not available without
unreasonable effort. This is due to the inherent difficulty of
forecasting the occurrence and the financial impact of various
items that have not yet occurred, are out of our control or cannot
be reasonably predicted. For the same reasons, management is unable
to address the probable significance of the unavailable
information. Forward looking non GAAP financial measures provided
without the most directly comparable GAAP financial measures may
vary materially from the corresponding GAAP financial measures.
Investor
Relations
Jamie Buckland
+44 (0) 203 954 2831
jbuckland@kosmosenergy.com
Media
Relations
Thomas Golembeski
+1-214-445-9674
tgolembeski@kosmosenergy.com
