REG - Kosmos Energy Ltd - Report on Payments to Govts
13/06/2023 07:00
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RNS Number : 4713C Kosmos Energy Limited 13 June 2023
Kosmos Energy Ltd
Report on payments to government for the year 2022
Introduction
Kosmos Energy Ltd. has prepared the following report of payments made to
governments for the year ended December 31, 2022 in accordance with the
Reports on Payments to Governments Regulations 2014 (2014/3209) as amended by
the Reports on Payments to Governments (Amendment) Regulations 2015
(2015/1928). The Payments to Government data are reflective of select payments
made to government entities by Kosmos Energy Ltd.. These payments are
categorized consistent with the Report on Payments to Governments Regulations
2014 (as amended in December 2015) (the Regulations).
Payments to Governments (USD) (1)
Equatorial Guinea Ghana Mauritania São Tomé Senegal United States
and Príncipe
Income Taxes (2) $ 35,990,000 $ 203,344,000 $ - $ - $ - $ 8,555,000
Royalties (BOE) (3) 527,000 696,000 - - - 1,003,000
Royalties ($s) (4) $ 53,396,000 $ 70,519,000 $ - $ - $ - $ 88,102,000
Dividends $ - $ - $ - $ - $ - $ -
Bonuses (5) $ - $ - $ - $ - $ - $ 798,000
License Fees (6) $ 35,000 $ 26,000 $ - $ - $ - $ 2,030,000
Infrastructure Improvement $ - $ - $ - $ - $ - $ -
Total $ 89,421,000 $ 273,889,000 $ - $ - $ - $ 99,485,000
FOOTNOTES
1 Government includes any national, regional, or local authority of a
country, and includes a department, agency or entity that is a subsidiary of a
government, including a national oil company.
2 Income taxes - Inclusive of tax refunds received. This is based on taxes
assessed on income.
3 Royalties - Royalties are paid to the Government of Ghana and the
Republic of Equatorial Guinea in barrels of oil out of Kosmos Energy's working
interest share of production and as reported by the third-party operator.
United States royalties are payments to the United States Office of Natural
Resources Revenue (ONRR) based on actual production from offshore--------
federal leases.
4 Royalties - The value of royalties for Equatorial Guinea and Ghana are
estimated based on the annual average of daily Brent prices of $101.32 during
2022. United States royalties are actual payments to the United States ONRR.
5 Bonuses - Payments made to the federal government when acquiring
offshore leases.
6 License Fees - Payments made primarily to the federal government for
annual rentals and applications for permits.
Introduction - Supplemental Information
In addition to the above Payments to Governments, Kosmos Energy Ltd. has
prepared the following supplemental information for the year ended 31 December
2022.
Payments to Governments (USD) - Supplemental Information
Equatorial Guinea Ghana Mauritania São Tomé Senegal United States
and Príncipe
Supplementary Disclosures
Production Entitlements (bbls) (1) 655,000 - - - - -
Estimated Production Entitlements ($s) (1) $ 66,365,000 $ - $ - $ - $ - $ -
Envt, Capacity Building & Social Projects (3) $ 9,000 $ - $ 275,000 $ - $ 26,000 $ -
Training (3) $ 695,000 $ - - $ - $ - $ - $ -
Taxes (Non-Income) (2 4) $ 209,000 $ 8,124,000 $ 536,000 $ 39,000 $ 592,000 $ 5,925,000
FOOTNOTES
1 Production entitlements are paid to the Republic of Equatorial Guinea in
barrels of oil based on their participating interest. The production
entitlement amounts presented represent Kosmos Energy's participating share
received by the Republic of Equatorial Guinea. The value of the production
entitlements disclosed above are based on the annual average of daily Brent
prices of $101.32 during 2022. These figures exclude 15.594 Bscf of
associated Jubilee and TEN sold to GNPC during the year.
2 Inclusive of any tax refunds received.
3 Represents payments made directly to government for satisfaction of
obligations per the Petroleum Agreements and/or Petroleum Sharing Contracts
(PSCs), as applicable. In addition to the numbers above, Kosmos made
payments to national oil company employees in accordance with training
obligations per the PSCs totaling $8,600 in São Tomé and Príncipe.
4 Primarily withholding taxes on interest payments, employer paid
payroll-related taxes, and property taxes paid on pipe and tangible goods
inventory stored at various onshore locations in the United States. These
values are exclusive of withholding or similar taxes remitted on behalf of
service providers.
Payments to Governments - Receiving Entity-Level Disclosures (1)
Production Entitlements (bbls) (2) Estimated Production Entitlements Income Taxes (3) Royalties (BOE) (2) Royalties ($s) (2) Dividends
($s) (2)
Ministry of Mines and Hydrocarbons 655,000 66,365,000 - 527,000 53,396,000 -
Tresoreria General Del Estado - - 35,990,000 - - -
Instituto Nacional de Seguridad Social de Guinea Ecuatorial - - - - - -
Fondo de Formacion del Ministerio de Minas e - - - - - -
Excmo Ayuntamiento de Malabo - - - - - -
Tresor Public De Guinee Equatoriale Depots - - - - - -
Various - - - - - -
Total Equatorial Guinea 655,000 $ 66,365,000 $ 35,990,000 527,000 $ 53,396,000 $ -
Government of Republic of Ghana - - - 696,000 70,519,000 -
Petroleum Commission of Ghana - - - - - -
Registrar General Department
Social Security & Nat'l Insura - - - - - -
Ghana Revenue Authority - - 203,344,000 - - -
Electricity Company of Ghana - - - - - -
Total Ghana - $ - $ 203,344,000 696,000 $ 70,519,000 $ -
Caisse Nationale D'Assuramce Maladie - - - - - -
Caisse Nationale De Securite Sociale - - - - - -
Tresorier General - - - - - -
Commissariat à la Sécurité Alimentaire - - - - - -
Various - - - - - -
Total Mauritania - $ - $ - - $ - $ -
INSS - Instituto Nacional De Seguranca Social - - - - - -
Tesouro Publico - - - - - -
Direcao Geral Das Alfandegas - - - - - -
Total São Tomé and Príncipe - $ - $ - - $ - $ -
Chef du Bureau de Recouvrement - - - - - -
Senegal Retirement - - - - - -
Senegal Social Security - - - - - -
Parc National des Oiseaux du Djoudj - - - - - -
Total Senegal - $ - $ - - $ - $ -
ONRR - - - 1,003,000 88,102,000 -
Internal Revenue Service - - 8,395,000 - - -
Various - - 160,000 - - -
Total United States of America - $ - $ 8,555,000 1,003,000 $ 88,102,000 $ -
Total 655,000 $ 66,365,000 $ 247,889,000 2,226,000 $ 212,017,000 $ -
FOOTNOTES
Kosmos Energy Ltd. has prepared the following report of payments made to
governments for the year ended December 31, 2022 in accordance with the
Reports on Payments to Governments Regulations 2014 (2014/3209) as amended by
the Reports on Payments to Governments (Amendment) Regulations 2015
(2015/1928). The Payments to Government data are reflective of select payments
made to government entities by Kosmos Energy Ltd.. These payments are
categorized consistent with the Report on Payments to Governments Regulations
2014 (as- amended in December 2015) (the Regulations). Kosmos Energy has
also included supplementary disclosures of payments to governments in addition
to those prescribed by the Regulations. Please see the footnotes below for
further detail on the payments we made to our host country governments in
2022.
1 Our summary, project-level and receiving-entity level payments to
government disclosures are also available on our website at
www.kosmosenergy.com/transparency (http://www.kosmosenergy.com/transparency) .
2 Production entitlements are paid to the Republic of Equatorial Guinea in
barrels of oil based on their participating interest. The production
entitlement amounts presented represent Kosmos Energy's participating share
received by the Republic of Equatorial Guinea. Royalties are paid to the
Government of Ghana and the Republic of Equatorial Guinea in barrels of oil
out of Kosmos Energy's working interest share of production and as reported by
the third-party operator. These figures exclude 15.594 Bscf of associated
Jubilee and TEN sold to GNPC during the year. The value of the international
royalties and production entitlements disclosed above are based on the annual
average of daily Brent prices of $101.32 during 2022. United States
royalties are actual payments to the United States Office of Natural Resources
Revenue (ONRR) based on actual production from offshore federal leases.
3 Inclusive of tax refunds received. This is based on taxes assessed on
income.
4 Represents payments made directly to government for satisfaction of
obligations per the Petroleum Agreements and/or Petroleum Sharing Contracts
(PSCs), as applicable. In addition to the numbers above, Kosmos made
payments to national oil company employees in accordance with training
obligations per the PSCs totaling $8,600 in São Tomé and Príncipe.
5 Primarily withholding taxes on interest payments, employer paid
payroll-related taxes, and property taxes paid on pipe and tangible goods
inventory stored at various onshore locations in the United States. These
values are exclusive of withholding or similar taxes remitted on behalf of
service providers.
Payments to Governments - Receiving Entity-Level Disclosures (1)
Bonuses License Fees Infrastructure Improvement Environment, Capacity Building & Social Training (4) Taxes TOTAL
(Non-Income) (5)
Projects (4)
Ministry of Mines and Hydrocarbons - - - 2,000 281,000 - $ 120,044,000
Tresoreria General Del Estado - 35,000 - - - 135,000 $ 36,160,000
Instituto Nacional de Seguridad Social de Guinea Ecuatorial - - - - - 61,000 $ 61,000
Fondo de Formacion del Ministerio de Minas e - - - - 414,000 - $ 414,000
Excmo Ayuntamiento de Malabo - - - - - 13,000 $ 13,000
Tresor Public De Guinee Equatoriale Depots - - - - - - $ -
Various - - - 7,000 - - $ 7,000
Total Equatorial Guinea $ - $ 35,000 $ - $ 9,000 $ 695,000 $ 209,000 $ 156,699,000
Government of Republic of Ghana - - - - - - $ 70,519,000
Petroleum Commission of Ghana - 19,000 - - - - $ 19,000
Registrar General Department 7,000 - - - - $ 7,000
Social Security & Nat'l Insura - - - - - 149,000 $ 149,000
Ghana Revenue Authority - - - - - 7,934,000 $ 211,278,000
Electricity Company of Ghana - - - - - 41,000 $ 41,000
Total Ghana $ - $ 26,000 $ - $ - $ - $ 8,124,000 $ 282,013,000
Caisse Nationale D'Assuramce Maladie - - - - - 72,000 $ 72,000
Caisse Nationale De Securite Sociale - - - - - 7,000 $ 7,000
Tresorier General - - - - - 457,000 $ 457,000
Commissariat à la Sécurité Alimentaire - - - 269,000 - - $ 269,000
Various - - - 6,000 - - $ 6,000
Total Mauritania $ - $ - $ - $275,000 $ - $ 536,000 $ 811,000
INSS - Instituto Nacional De Seguranca Social - - - - - 11,000 $ 11,000
Tesouro Publico - - - - - 28,000 $ 28,000
Direcao Geral Das Alfandegas - - - - - - $ -
Total São Tomé and Príncipe $ - $ - $ - $ - $ - $ 39,000 $ 39,000
Chef du Bureau de Recouvrement - - - - - $580,000 $ 580,000
Senegal Retirement - - - - - $12,000 $ 12,000
Senegal Social Security - - - - - $- $ -
Parc National des Oiseaux du Djoudj - - - 26,000 - $- $ 26,000
Total Senegal $ - $ - $ - $ 26,000 $ - $ 592,000 $ 618,000
ONRR 798,000 2,030,000 - - - - $ 90,930,000
Internal Revenue Service - - - - - - $ 8,395,000
Various - - - - - 5,925,000 $ 6,085,000
Total United States of America $ 798,000 $ 2,030,000 $ - $ - $ - $ 5,925,000 $ 105,410,000
Total $ 798,000 $ 2,091,000 $ - $ 310,000 $ 695,000 $ 15,425,000 $ 545,590,000
FOOTNOTES
Kosmos Energy Ltd. has prepared the following report of payments made to
governments for the year ended December 31, 2022 in accordance with the
Reports on Payments to Governments Regulations 2014 (2014/3209) as amended by
the Reports on Payments to Governments (Amendment) Regulations 2015
(2015/1928). The Payments to Government data are reflective of select payments
made to government entities by Kosmos Energy Ltd.. These payments are
categorized consistent with the Report on Payments to Governments Regulations
2014 (as- amended in December 2015) (the Regulations). Kosmos Energy has
also included supplementary disclosures of payments to governments in addition
to those prescribed by the Regulations. Please see the footnotes below for
further detail on the payments we made to our host country governments in
2022.
1 Our summary, project-level and receiving-entity level payments to
government disclosures are also available on our website at
www.kosmosenergy.com/transparency (http://www.kosmosenergy.com/transparency) .
2 Production entitlements are paid to the Republic of Equatorial Guinea in
barrels of oil based on their participating interest. The production
entitlement amounts presented represent Kosmos Energy's participating share
received by the Republic of Equatorial Guinea. Royalties are paid to the
Government of Ghana and the Republic of Equatorial Guinea in barrels of oil
out of Kosmos Energy's working interest share of production and as reported by
the third-party operator. These figures exclude 15.594 Bscf of associated
Jubilee and TEN sold to GNPC during the year. The value of the international
royalties and production entitlements disclosed above are based on the annual
average of daily Brent prices of $101.32 during 2022. United States
royalties are actual payments to the United States Office of Natural Resources
Revenue (ONRR) based on actual production from offshore federal leases.
3 Inclusive of tax refunds received. This is based on taxes assessed on
income.
4 Represents payments made directly to government for satisfaction of
obligations per the Petroleum Agreements and/or Petroleum Sharing Contracts
(PSCs), as applicable. In addition to the numbers above, Kosmos made
payments to national oil company employees in accordance with training
obligations per the PSCs totaling $8,600 in São Tomé and Príncipe.
5 Primarily withholding taxes on interest payments, employer paid
payroll-related taxes, and property taxes paid on pipe and tangible goods
inventory stored at various onshore locations in the United States. These
values are exclusive of withholding or similar taxes remitted on behalf of
service providers.
Payments to Governments - Project-Level Disclosures (1)
Production Entitlements (bbls) (2) Estimated Production Entitlements Income Taxes (3) Royalties (BOE) (2) Royalties ($s) (2) Dividends
($s) (2)
Ceiba Field 230,000 23,304,000 - 176,000 17,832,000 -
Okume Complex Field 425,000 43,061,000 - 351,000 35,564,000 -
Equatorial Guinea Block S - - - - - -
Equatorial Guinea Block W - - - - - -
Equatorial Guinea Block 21 - - - - - -
Equatorial Guinea Block 24 - - - - - -
Company Level - Kosmos Equatorial Guinea, Inc. - - 35,980,000 - - -
Company Level - Kosmos Energy Equatorial Guinea - - 10,000 - - -
Total Equatorial Guinea 655,000 $ 66,365,000 $ 35,990,000 527,000 $ 53,396,000 $ -
Jubilee - - - 601,000 60,894,000 -
TEN - - - 95,000 9,625,000 -
West Cape Three Points - - - - - -
Deepwater Tano - - - - - -
Company Level - - 203,344,000 - - -
Total Ghana - $ - $ 203,344,000 696,000 $ 70,519,000 $ -
Company Level - - - - - -
Total Mauritania - $ - $ - - $ - $ -
Company Level - - - - - -
Total Sao Tome and Principe - $ - $ - - $ - $ -
Company Level - - - - - -
Total Senegal - $ - $ - - $ - $ -
Mississippi Canyon - - - 546,000 49,539,000 -
De Soto Canyon - - - - - -
Garden Banks - - - 16,000 1,416,000 -
Green Canyon - - - 441,000 37,147,000 -
Keathley Canyon - - - - - -
Walker Ridge - - - - - -
Company Level - - 8,555,000 - - -
Total United States of America - $ - $ 8,555,000 1,003,000 $ 88,102,000 $ -
Total 655,000 $ 66,365,000 $ 247,889,000 2,226,000 $ 212,017,000 $ -
FOOTNOTES
Kosmos Energy Ltd. has prepared the following report of payments made to
governments for the year ended December 31, 2022 in accordance with the
Reports on Payments to Governments Regulations 2014 (2014/3209) as amended by
the Reports on Payments to Governments (Amendment) Regulations 2015
(2015/1928). The Payments to Government data are reflective of select payments
made to government entities by Kosmos Energy Ltd.. These payments are
categorized consistent with the Report on Payments to Governments Regulations
2014 (as amended in December 2015) (the Regulations). Kosmos Energy has also
included supplementary disclosures of payments to governments in addition to
those prescribed by the Regulations. Please see the footnotes below for
further detail on the payments we made to our host country governments in
2022.
1 Our summary, project-level and receiving-entity level payments to
government disclosures are also available on our website at
www.kosmosenergy.com/transparency (http://www.kosmosenergy.com/transparency) .
2 Production entitlements are paid to the Republic of Equatorial Guinea in
barrels of oil based on their participating interest. The production
entitlement amounts presented represent Kosmos Energy's participating share
received by the Republic of Equatorial Guinea. Royalties are paid to the
Government of Ghana and the Republic of Equatorial Guinea in barrels of oil
out of Kosmos Energy's working interest share of production and as reported by
the third-party operator. These figures exclude 15.594 Bscf of associated
Jubilee and TEN sold to GNPC during the year. The value of the international
royalties and production entitlements disclosed above are based on the annual
average of daily Brent prices of $101.32 during 2022. United States
royalties are actual payments to the United States Office of Natural Resources
Revenue (ONRR) based on actual production from offshore federal leases.
3 Inclusive of tax refunds received. This is based on taxes assessed on
income.
4 Represents payments made directly to government for satisfaction of
obligations per the Petroleum Agreements and/or Petroleum Sharing Contracts
(PSCs), as applicable. In addition to the numbers above, Kosmos made
payments to national oil company employees in accordance with training
obligations per the PSCs totaling $8,600 in São Tomé and Príncipe.
5 Primarily withholding taxes on interest payments, employer paid
payroll-related taxes, and property taxes paid on pipe and tangible goods
inventory stored at various onshore locations in the United States. These
values are exclusive of withholding or similar taxes remitted on behalf of
service providers.
Payments to Governments - Project-Level Disclosures (1)
Bonuses License Fees Infrastructure Improvement Environment, Capacity Building & Social Training (4) Taxes TOTAL
(Non-Income) (5)
Projects (4)
Ceiba Field - 2,000 - - - - $ 41,138,000
Okume Complex Field - 2,000 - - - - $ 78,627,000
Equatorial Guinea Block S - 31,000 - - 104,000 52,250 $ 187,250
Equatorial Guinea Block W - - - - 244,000 52,250 $ 296,250
Equatorial Guinea Block 21 - - - - 243,000 52,250 $ 295,250
Equatorial Guinea Block 24 - - - - 104,000 52,250 $ 156,250
Company Level - Kosmos Equatorial Guinea, Inc. - - - - - - $ 35,980,000
Company Level - Kosmos Energy Equatorial Guinea - - - 9,000 - - $ 19,000
Total Equatorial Guinea $ - $ 35,000 $ - $ 9,000 $ 695,000 $ 209,000 $ 156,699,000
Jubilee - - - - - - $ 60,894,000
TEN - - - - - - $ 9,625,000
West Cape Three Points 13,000 - - - - $ 13,000
Deepwater Tano - 13,000 - - - - $ 13,000
Company Level - - - - - 8,124,000 $ 211,468,000
Total Ghana $ - $ 26,000 $ - $ - $ - $ 8,124,000 $ 282,013,000
Company Level - - - 275,000 - 536,000 $ 811,000
Total Mauritania $ - $ - $ - $275,000 $ - $ 536,000 $ 811,000
Company Level - - - - - 39,000 $ 39,000
Total São Tomé and Príncipe $ - $ - $ - $ - $ - $ 39,000 $ 39,000
Company Level - - - 26,000 - 592,000 $ 618,000
Total Senegal $ - $ - $ - $ 26,000 $ - $ 592,000 $ 618,000
Mississippi Canyon - 944,000 - - - - $ 50,483,000
De Soto Canyon - 375,000 - - - - $ 375,000
Garden Banks - 13,000 - - - - $ 1,429,000
Green Canyon 798,000 50,000 - - - - $ 37,995,000
Keathley Canyon - 195,000 - - - - $ 195,000
Walker Ridge - 253,000 - - - - $ 253,000
Company Level - 200,000 - - - 5,925,000 $ 14,680,000
Total United States of America $ 798,000 $ 2,030,000 $ - $ - $ - $ 5,925,000 $ 105,410,000
Total $ 798,000 $ 2,091,000 $ - $ 310,000 $ 695,000 $ 15,425,000 $ 545,590,000
FOOTNOTES
Kosmos Energy Ltd. has prepared the following report of payments made to
governments for the year ended December 31, 2022 in accordance with the
Reports on Payments to Governments Regulations 2014 (2014/3209) as amended by
the Reports on Payments to Governments (Amendment) Regulations 2015
(2015/1928). The Payments to Government data are reflective of select payments
made to government entities by Kosmos Energy Ltd.. These payments are
categorized consistent with the Report on Payments to Governments Regulations
2014 (as- amended in December 2015) (the Regulations). Kosmos Energy has
also included supplementary disclosures of payments to governments in addition
to those prescribed by the Regulations. Please see the footnotes below for
further detail on the payments we made to our host country governments in
2022.
1 Our summary, project-level and receiving-entity level payments to
government disclosures are also available on our website at
www.kosmosenergy.com/transparency
(http://www.kosmosenergy.com/responsibility/transparency.php) .
2 Production entitlements are paid to the Republic of Equatorial Guinea in
barrels of oil based on their participating interest. The production
entitlement amounts presented represent Kosmos Energy's participating share
received by the Republic of Equatorial Guinea. Royalties are paid to the
Government of Ghana and the Republic of Equatorial Guinea in barrels of oil
out of Kosmos Energy's working interest share of production and as reported by
the third-party operator. These figures exclude 15.594 Bscf of associated
Jubilee and TEN sold to GNPC during the year. The value of the international
royalties and production entitlements disclosed above are based on the annual
average of daily Brent prices of $101.32 during 2022. United States
royalties are actual payments to the United States Office of Natural Resources
Revenue (ONRR) based on actual production from offshore federal leases.
3 Inclusive of tax refunds received. This is based on taxes assessed on
income.
4 Represents payments made directly to government for satisfaction of
obligations per the Petroleum Agreements and/or Petroleum Sharing Contracts
(PSCs), as applicable. In addition to the numbers above, Kosmos made
payments to national oil company employees in accordance with training
obligations per the PSCs totaling $8,600 in São Tomé and Príncipe.
5 Primarily withholding taxes on interest payments, employer paid
payroll-related taxes, and property taxes paid on pipe and tangible goods
inventory stored at various onshore locations in the United States. These
values are exclusive of withholding or similar taxes remitted on behalf of
service providers.
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