Kosmos Energy Provides Update on Greater Tortue Ahmeyim FPSO

Rhea-AI Summary

Kosmos Energy (NYSE: KOS) reported an incident during Typhoon Muifa affecting the Greater Tortue Ahmeyim (GTA) project. The floating production, storage, and offloading vessel (FPSO), under construction at the COSCO shipyard in China, drifted approximately 200 meters due to compromised mooring lines. Fortunately, no injuries were reported. The company anticipates that costs to return the vessel and any damage incurred will be covered by insurance. Further updates will be provided as information becomes available.

Positive

• Insurance coverage for the costs associated with returning the FPSO and any potential damage from Typhoon Muifa.

Negative

• Delay in construction and potential impacts on the timeline of the GTA project due to the drifting FPSO.

DALLAS--(BUSINESS WIRE)-- Kosmos Energy (NYSE/LSE: KOS) (“Kosmos” or the “Company”) has been informed by BP, the operator of the Greater Tortue Ahmeyim project (“GTA”), of the impact of Typhoon Muifa which passed through the COSCO shipyard in Qidong in China yesterday.

The floating production, storage and offloading vessel (“FPSO”) for GTA is being constructed at the COSCO yard. During the typhoon, the mooring lines of the FPSO became compromised, resulting in the vessel drifting approximately 200 meters off the quayside. Work is underway to enable the vessel to return to the quayside. No injuries have been reported in connection with this incident. The cost of returning the vessel to the quayside and any potential damage is expected to be covered by insurance.

Kosmos will provide an update as additional information becomes available.

About Kosmos Energy

Kosmos is a full-cycle deepwater independent oil and gas exploration and production company focused along the Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and U.S. Gulf of Mexico, as well as a world-class gas development offshore Mauritania and Senegal. 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 Corporate 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.

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Investor Relations

Jamie Buckland

+44 (0) 203 954 2831

jbuckland@kosmosenergy.com

Media Relations

Thomas Golembeski

+1-214-445-9674

tgolembeski@kosmosenergy.com

Source: Kosmos Energy Ltd.

FAQ

What incident affected Kosmos Energy's Greater Tortue Ahmeyim project?

Typhoon Muifa caused the FPSO for the Greater Tortue Ahmeyim project to drift approximately 200 meters at the COSCO shipyard.

Will the damages from Typhoon Muifa impact Kosmos Energy's finances?

The costs related to returning the FPSO and any resultant damage are expected to be covered by insurance.

Was anyone injured during the Typhoon Muifa incident involving Kosmos Energy?

No injuries were reported in connection with the incident during Typhoon Muifa.

What is the stock symbol for Kosmos Energy?

Kosmos Energy is traded under the stock symbol KOS on the NYSE.