BP, Kosmos get rights for two blocks offshore Sao Tome and Principe
Oil major BP and its partner Kosmos Energy have won exploration rights for two blocks offshore Sao Tome and Principe.
Reuters reported on Tuesday that the consortium of BP and Kosmos had won blocks 10 and 13 in a restricted tender, beating the second consortium of French Total and Portuguese Galp Energia.
The U.S.-based Kosmos Energy already has interest in blocks 5, 6, 11 and 12 off Sao Tome and Principe, which the company acquired back in 2015 and 2016. Kosmos’ interests in those blocks vary from 45% to 85%, depending on the block. Water depth is up to 3,000 meters.
According to information on Kosmos Energy’s website, early processing from regional Sao Tome 3D seismic survey were encouraging.
Based on these seismic results, Kosmos is expected to start drilling in 2019, Reuters reported.
Offshore Energy Today has reached out to BP and Kosmos seeking details about the consortium’s plans for the two blocks.
A spokesperson for BP confirmed that the government of Sao Tome and Principe had selected BP and Kosmos for Blocks 10 and 13.
The spokesperson also added that BP was looking forward to working with ANP, the government, and Kosmos to finalize the production sharing contracts (PSCs). Details will be known once the PSCs have been signed.
BP-Kosmos alliance in action
In a statement sent to Offshore Energy Today, a spokesperson for Kosmos Energy clarified that this collaboration is part of a strategic exploration alliance formed with BP last year to expand the relationship that previously covered Mauritania, Senegal and the Gambia to create a broader Atlantic Margin Explorer/Developer partnership.
“Acquiring new acreage offshore Sao Tome and Principe (and Cote d’Ivoire at the end of 2017) is an example of the exploration alliance in action and part of a second cycle exploration drive back into the Transform Margin of Africa and the Gulf of Guinea,” the spokesperson further explained.
When it comes to the work program, the spokesperson stated: “The work program will be phased, which will enable Kosmos and BP to develop a deeper understanding of the basin and create the best chance of exploration success. In the first 4-year phase, Kosmos and BP will focus on acquiring new seismic and interpreting and analyzing the data. Kosmos will be the technical operator during the exploration phase of the license, with BP taking over to manage any development following exploration success.”
Offshore Energy Today Staff