Kosmos Energy highlighted the untapped potential of Africa’s “deep gas resources” and strategies to maximize this potential during the opening ceremony of African Energy Week (AEW): Invest in African Energies 2024.
The deepwater exploration and production company is actively involved in several major oil and gas projects across Africa, focusing on developing cost-competitive gas for local economies, as well as LNG facilities to facilitate exports. In Senegal and Mauritania, Kosmos is leading the flagship Greater Tortue Ahmeyim LNG project, as well as working closely with Petrosen on the development of the Yakaar-Teranga gas project offshore Senegal.
“Africa has the right to become a gas powerhouse, competing with Australia, Qatar and the U.S. It has the resources to do it, and it can do so by ensuring gas is used domestically to create affordable power,” said Andy Inglis, Chairman & CEO of Kosmos Energy.
According to Inglis, the key factors for greenlighting new oil and gas projects in Africa include delivering clarity and stability, as well as aligning with key stakeholders across NOCs, IOCs and government ministries to identify and advance projects that are cost-effective and efficient.
“There is strong support for a just energy transition – it’s at the core of Kosmos’ strategy. Our backers want to see projects in countries where there is stability in fiscal regimes, clarity in purpose, and predictability in regulation.”
Kosmos has a strong track record of delivering innovative projects, including taking the Jubilee field in Ghana from discovery to first oil in just 40 months. The project employed a fast-tracked development model, utilizing an FPSO conversion and proven technologies.
“It was a simple concept, with a supportive environment both in terms of the government and partnership in the field. It enabled the cash flow to come to Ghana.”
Kosmos Energy is a Diamond Sponsor of the AEW: Invest in African Energies 2024 conference, which officially kicked off today.
Distributed by APO Group on behalf of African Energy Chamber.
