Kosmos Energy gains Ghana license extensions to 2040

Ghana’s parliament formally ratified extensions to its West Cape Three Points and Deepwater Tano Petroleum Agreements, securing licenses for Kosmos Energy covering the Jubilee and TEN offshore fields through 2040.

As part of the updated terms, the amended Jubilee development plan will include up to 20 additional wells, which Kosmos said should result in an increase in 2P reserves.

At Jubilee, the J74 well that came online earlier in January is fully ramped up and producing about 13,000 bopd, lifting average gross Jubilee oil production to over 70,000 bopd in February month-to-date. The first well of the five-well 2026 drilling campaign, J75, has been drilled, encountering approximately 40 meters of net pay and expected to be completed and brought online by the end of the first quarter.