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African Energy Chamber, corporate

African Energy Chamber,

04.11.2019 - 10:37:20

African Energy Chamber: Kosmos Strikes Oil in Offshore Rio Muni, Equatorial Guinea

 

November 3, 2019Kosmos Strikes Oil in Offshore Rio Muni, Equatorial Guinea MALABO, EQUATORIAL GUINEA - The Government of Equatorial Guinea, represented by the Ministry of Mines and Hydrocarbons, has announced that Kosmos Energy has made an oil discovery in offshore Equatorial Guinea. The S-5 well was drilled at a total depth of 4,400 meters and encountered 39 meters of net oil play in the Santonian reservoir, in the offshore Rio Muni Basin.

Image Link: https://bit.ly/2ClXJZP

The discovery was the first well drilled in Kosmos' infrastructure-led exploration (ILX) in offshore Equatorial Guinea. The drilling of the S-5 well was accelerated following exciting 3D seismic acquired in 2018. Partners in the S-5 well include GEPetrol (20%), Trident Energy (40%) and Kosmos (40%).

Kosmos Energy has operated in Equatorial Guinea since 2018. Further evaluation work is ongoing to establish the full extent of the discovered resource and determine a schedule of the development phase.

"We are very excited about the results of the S-5 well, the first well drilled in this ongoing exploration campaign. The discovery is a strong validation of our strategy to replace oil reserves by exploring the highly prospective oil basins like Rio Muni. We are eager to establish more oil prospects in offshore Equatorial Guinea," said H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons. "This is good for more jobs and opportunities for our citizens and investors," he added.

Contact: Mr. Robustiano Ndong Eyegue Mangue Director General of Hydrocarbonsrobustianoeyegue@yahoo.es

04.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

903477  04.11.2019 

@ dgap.de