Kosmos Energy has provided an operational and financial update, highlighting continued progress across its portfolio, including significant developments in Ghana, Mauritania and Senegal.
In Ghana, the company announced that the second producer well, J-74, under the 2025–2026 Jubilee field development campaign, has been successfully drilled and completed and is expected to come on stream shortly.
The well encountered about 50 metres of net pay and has been completed in three zones, similar to the J-72 well that began production in mid-2025.
Production from J-74 is expected to exceed 10,000 barrels of oil per day, lifting gross Jubilee production to nearly 70,000 barrels per day at the start of 2026.
Kosmos reported that gross Jubilee production averaged approximately 59,000 barrels per day in the fourth quarter of 2025, reflecting a slowing base decline. The partnership has also approved five additional wells for drilling in 2026, including four producers and one injector, with drilling of the next producer already underway.
The company further disclosed that the Government of Ghana approved licence extensions for the West Cape Three Points and Deep Water Tano Petroleum Agreements in late December 2025.
The extensions, which cover the Jubilee and TEN fields, have been submitted to Parliament for ratification and would extend the agreements to 2040. Under the revised terms, the Ghana National Petroleum Corporation’s interest will increase by an additional 10 per cent from July 2036.
The amended Jubilee development plan also allows for up to 20 additional wells, which Kosmos expects will increase its proved and probable reserves.
At the TEN field, partners have agreed on final sale and purchase terms to acquire the FPSO at the end of its current lease in 2027, with execution of the agreement expected in early 2026. Kosmos anticipates that owning the FPSO will significantly reduce operating costs and improve leverage.
Outside Ghana, the Greater Tortue Ahmeyim (GTA) LNG project offshore Mauritania and Senegal continued to ramp up, with the floating LNG vessel operating at nameplate capacity in December 2025. The partnership lifted 18.5 LNG cargoes and one condensate cargo during the year and expects cargo liftings to nearly double in 2026.
On the financial front, Kosmos submitted a borrowing notice for a $100 million draw on its Gulf of America Term Facility and issued a notice to redeem its remaining 2026 unsecured notes, with redemption expected in mid-January 2026. The company also said it is progressing plans to refinance its 2027 debt maturities.
Kosmos Energy is a deepwater exploration and production company with assets offshore Ghana, Equatorial Guinea, Mauritania, Senegal and the Gulf of America.
