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Kosmos Energy Announces Greater Tortue Ahmeyim FPSO Sailaway
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Kosmos Energy (NYSE: KOS) announced the departure of the floating production, storage and offloading vessel (FPSO) for the Greater Tortue Ahmeyim (GTA) liquefied natural gas project from a shipyard in China. The vessel's journey spans approximately 12,000 nautical miles, with an estimated arrival in the project's site near the maritime border of Mauritania and Senegal in the second quarter of 2023. The project was about 90% complete by the end of 2022, marking a significant milestone for Kosmos. The CEO, Andrew G. Inglis, anticipates an active year ahead with several key achievements for the project and the company.
Positive
Completion of 90% of the GTA project by end of 2022.
FPSO's departure signifies a major milestone.
Expected arrival of the FPSO in Q2 2023 enhances project timeline.
Negative
None.
DALLAS--(BUSINESS WIRE)--
Kosmos Energy (NYSE/LSE: KOS) (“Kosmos” or the “Company”) announces that the floating production, storage and offloading vessel (“FPSO”) for the Greater Tortue Ahmeyim (“GTA”) liquefied natural gas project has departed the COSCO shipyard in China to commence its voyage via Singapore to the project site on the maritime border of Mauritania and Senegal. The voyage is approximately 12,000 nautical miles and the vessel is expected to arrive in the second quarter.
Chairman and Chief Executive Officer Andrew G. Inglis commented: “The sailaway of the GTA FPSO from the shipyard in China is a key milestone for the project. At the end of 2022, the project was around 90% complete and we look forward to an active 2023 where we expect to achieve a number of important milestones for the project and the company.”
About Kosmos Energy
Kosmos is a full-cycle deepwater, independent oil and gas exploration and production company focused along the offshore Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and the U.S.Gulf of Mexico, as well as a world-class gas development offshore Mauritania and Senegal. We also pursue a proven basin exploration program in Equatorial Guinea, Ghana and the U.S.Gulf of Mexico. 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 our Sustainability Responsibility 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.
What is the latest update on Kosmos Energy's Greater Tortue Ahmeyim project?
Kosmos Energy announced that the FPSO for the Greater Tortue Ahmeyim project has departed from China and is expected to arrive at the project site in Q2 2023.
When is the FPSO expected to arrive at the Greater Tortue Ahmeyim project?
The FPSO is expected to arrive at the Greater Tortue Ahmeyim project site in the second quarter of 2023.
What percentage of the Greater Tortue Ahmeyim project was completed by the end of 2022?
The Greater Tortue Ahmeyim project was approximately 90% complete by the end of 2022.
What is the significance of the FPSO's sailaway for Kosmos Energy?
The sailaway of the FPSO is considered a key milestone for the Greater Tortue Ahmeyim project, indicating progress towards project completion.
Who is the CEO of Kosmos Energy and what did he say about the project?
Andrew G. Inglis is the CEO of Kosmos Energy, and he highlighted the sailaway of the FPSO as a significant milestone and anticipates an active year for the project.
