Kosmos lines up Morocco block

Kosmos Energy has entered into a petroleum agreement with Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) concerning the Foum Assaka offshore concession.

Offshore staff

DALLAS – Kosmos Energy has entered into a petroleum agreement with Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) concerning the Foum Assaka offshore concession.

The agreement will come into effect following publication of a ministerial order, in accordance with Moroccan law.

Foum Assaka covers around 6,500 sq km (1.6 million acres) in the Agadir basin in the Atlantic Ocean, 43 km (27 mi) west of the port of Agadir. Kosmos says the acreage contains play elements similar to those in its other West African holdings.

Kosmos will operate the block with a 37.5% interest in the agreement. ONHYM’s 25% interest will be carried through the exploration phase, and Pathfinder Hydrocarbon Ventures will hold the remaining 37.5%.

Offshore Ghana, Kosmos had contracted before its anchor-handling damage the semisub Transocean Marianas to drill the Cedrela-1 well on the West Cape Three Points block. The location is west of the Makore prospect near the block's southern boundary, and 9 km (6 mi) north of Hess’ Paradise-1 discovery.

Cedrela-1, due to spud later this summer, will target multiple objectives encountered elsewhere on the block.

07/06/2011

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