REG - Kosmos Energy Ltd - First LNG at GTA

Kosmos EnergyAnnouncement

10/02/2025 07:00

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RNS Number : 4935W  Kosmos Energy Limited  10 February 2025

KOSMOS ENERGY ANNOUNCES FIRST LNG AT THE GREATER TORTUE AHMEYIM

PROJECT IN MAURITANIA AND SENEGAL

 

DALLAS, Texas, February 10, 2025 - Kosmos Energy
(http://www.kosmosenergy.com/) (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

 

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