Kosmos, Noble pursue offshore West Africa drilling

Offshore staff

DALLAS -- Kosmos Energy and Noble Energy Inc. plan to pursue deepwater drilling programs offshore West Africa and have signed an agreement with Atwood Oceanics Pacific Ltd. to use its moored semisubmersible rig, Atwood Hunter.

The rig will help Kosmos to accelerate its West African exploration, appraisal and development drilling, particularly in Ghana where the company discovered the Jubilee oil field.

Kosmos will share the rig with Noble, which also will use theAtwood Hunter for additional drilling offshore West Africa.

"We are pleased to work together with Noble Energy and Atwood Oceanics, two solid companies that have vast West African experience," said James Musselman, Kosmos chairman and CEO. "We plan to evaluate the country's hydrocarbon resources expeditiously, accelerating oil production and value creation, which will significantly benefit the government and people of Ghana."

Under the three-and-a-half-year agreement, Kosmos will use theAtwood Hunter for 27 months, beginning in April 2009. Kosmos' share of the drilling contract commitment is more than $400 million. Kosmos and Noble Energy have a one-year option extension for the contract.

06/25/2008