Kosmos Gets Go-Ahead for Irish Farm-In

Europa Oil & Gas reported Monday that it has received government consent for the farming out of its Irish licensing options to independent oil and gas firm Kosmos Energy.

Europa reported that the Irish government has approved the transfer from Europa to Kosmos of 85 percent of Europa’s Licensing Option 11/7 and LO 11/8, which together cover approximately 770 square miles in the South Porcupine Basin in the Irish Atlantic Margin. Kosmos also assumes operatorship of the licensing options, while Europa will retain 15 percent of both options.

The proposed farm-in deal was previously announced April 18.

Europa CEO Hugh Mackay commented in a company statement Monday:

"Subject to government approval for converting the Licensing Options into full exploration licences, the next steps will involve acquiring 3-D seismic over both blocks. We are pursuing the same Cretaceous stratigraphic play that Kosmos pioneered in the Atlantic Margin basins offshore West Africa. Kosmos have outstanding technical and operational experience of exploring this play and are the ideal partner to lead our exploration programme in the South Porcupine basin.

"The recent announcements by ExxonMobil on 23 April of the commencement of drilling on the nearby Dunquin prospect and by Cairn Energy on 7 May regarding their farm-in to three licences in the North Porcupine basin indicate that we are entering an important period in offshore Ireland oil and gas exploration, in which Europa will be playing a key role."

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Antrim Farms out License to Kosmos

Canada's Antrim Energy announced Thursday lunchtime (UK time) that it has farmed out 75-percent of Licensing Option 11/05 in the Porcupine Basin, offshore Ireland, to independent oil firm Kosmos Energy.

In return for its 75-percent stake, Kosmos will carry the full costs of a planned 3D seismic program within the license area and reimburse Antrim a portion of its exploration costs incurred on the blocks to date.

The license lies adjacent to the Skellig Block, which contains the Dunquin North and South prospects that have been estimated by license partners Providence Resources and Sosina Exploration to potentially contain recoverable hydrocarbons in excess of 1.7 billion barrels of oil equivalent.

Kosmos is the oil company that discovered the Jubilee field offshore Ghana, which currently produces around 110,000 barrels of oil per day. Thursday saw the firm involved in another deal offshore Ireland, when it agreed to farm into 85 percent of two licenses held by Europa Oil & Gas, also in the Porcupine Basin.

Antrim CEO Stephen Greer commented in a company statement:

"Antrim is very pleased to have attracted a partner to this licence, and especially a proven player in the discovery and development of the world class deep sea Cretaceous West African oil fields."

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Antrim Farms out License to Kosmos

Canada's Antrim Energy announced Thursday lunchtime (UK time) that it has farmed out 75-percent of Licensing Option 11/05 in the Porcupine Basin, offshore Ireland, to independent oil firm Kosmos Energy.

In return for its 75-percent stake, Kosmos will carry the full costs of a planned 3D seismic program within the license area and reimburse Antrim a portion of its exploration costs incurred on the blocks to date.

The license lies adjacent to the Skellig Block, which contains the Dunquin North and South prospects that have been estimated by license partners Providence Resources and Sosina Exploration to potentially contain recoverable hydrocarbons in excess of 1.7 billion barrels of oil equivalent.

Kosmos is the oil company that discovered the Jubilee field offshore Ghana, which currently produces around 110,000 barrels of oil per day. Thursday saw the firm involved in another deal offshore Ireland, when it agreed to farm into 85 percent of two licenses held by Europa Oil & Gas, also in the Porcupine Basin.

Antrim CEO Stephen Greer commented in a company statement:

"Antrim is very pleased to have attracted a partner to this licence, and especially a proven player in the discovery and development of the world class deep sea Cretaceous West African oil fields."

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Antrim Farms out License to Kosmos

Canada's Antrim Energy announced Thursday lunchtime (UK time) that it has farmed out 75-percent of Licensing Option 11/05 in the Porcupine Basin, offshore Ireland, to independent oil firm Kosmos Energy.

In return for its 75-percent stake, Kosmos will carry the full costs of a planned 3D seismic program within the license area and reimburse Antrim a portion of its exploration costs incurred on the blocks to date.

The license lies adjacent to the Skellig Block, which contains the Dunquin North and South prospects that have been estimated by license partners Providence Resources and Sosina Exploration to potentially contain recoverable hydrocarbons in excess of 1.7 billion barrels of oil equivalent.

Kosmos is the oil company that discovered the Jubilee field offshore Ghana, which currently produces around 110,000 barrels of oil per day. Thursday saw the firm involved in another deal offshore Ireland, when it agreed to farm into 85 percent of two licenses held by Europa Oil & Gas, also in the Porcupine Basin.

Antrim CEO Stephen Greer commented in a company statement:

"Antrim is very pleased to have attracted a partner to this licence, and especially a proven player in the discovery and development of the world class deep sea Cretaceous West African oil fields."

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Offshore Ghana Focus of Kosmos 2013 Spending

Kosmos Energy's development plans for 2013 focus primarily offshore Ghana, approximately 55 percent of the total anticipated amount, with the remaining 45 percent allocated for exploration and appraisal activities across Kosmos' global exploration portfolio, the company said in a statement.

Kosmos expects for Jubilee's field production to average between 105,000 and 115,000 barrels of oil per day in 2013, with the midpoint of the range representing an increase of greater than 50 percent from last year’s average. This estimate includes the operator's plans for a two-week shut-down of Jubilee's FPSO for regular maintenance.

"Our plans for the year include advancing the development of the world-class Jubilee field, as well as further progress our other discoveries offshore Ghana," stated Brian F. Maxted, Chief Executive Officer. "Jubilee continues to demonstrate outstanding performance, with current field deliverability substantially above the FPSO capacity."

Kosmos plans to further develop the Jubilee field, with majority of the focus on the ongoing implementation of Phase 1A at the field. It estimates finalizing the drilling and completion of all Jubilee Phase 1A production and water injection wells by the middle part of the year.

The company is also allocating funds for the initiation of development at TEN (Tweneboa, Enyenra, and Ntomme), as well as additional appraisal activities and development studies for Mahogany, Teak and Akasa. The TEN plan of development, which represents Kosmos’ second major project development, has been submitted to the government of Ghana and is awaiting approval.

Furthermore, the operator plans to participate in two near-term exploration wells – the Sapele prospect and the Sipo-1 prospect. The Sapele prospect is currently being drilled on the Deepwater Tano Block offshore Ghana with results expected by the end of February 2013. Sipo-1, which is located onshore Cameroon on the Ndian River Block is expected for spudding in early February. Results from this well are anticipated around the end of the first quarter 2013.

Kosmos’ planned capital program provides for additional geologic studies, as well as further processing and interpreting of 3D data already acquired on the Agadir Basin Blocks offshore Morocco. Included in the 2013 capital program are funds for the completion of the company’s acquisition of an additional 37.5 percent interest in the Essaouira Block, which was previously announced. First drilling offshore Morocco is targeted to commence as early as late 2013.

In Mauritania, Kosmos anticipates commencing a large 2D seismic survey in the first half of this year, to be followed by a 3D seismic program later in 2013. Offshore Suriname, the company anticipates additional spending related to the processing and interpreting of a 3D seismic survey which was acquired in late 2012.

With more than 10 years of journalism experience, Robin Dupre specializes in the offshore sector of the oil and gas industry. Email Robin at rdupre@rigzone.com.

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