Wednesday, July 9, 2008
Dallas-based Kosmos Energy named 2007 “Operator of the Year” by Petroleum Africa Magazine
Publication selects company as Top “Mid-Sized Independent” for making “Discovery of the Year” in 2007.
DALLAS Kosmos Energy announced today that Petroleum Africa magazine has named Kosmos as Africa’s 2007 “Operator of the Year” for its drilling of the Mahogany-1 well that discovered the prolific Jubilee Field in Ghana’s deep waters, as well as Kosmos’ exploration programs in Nigeria, Benin and Cameroon. In addition, Petroleum Africa recognized Kosmos for making the “Discovery of the Year” with its Jubilee find, the largest oil discovery in the world in 2007. The trade publication also chose Kosmos as a top “Mid-Sized Independent” operating in Africa last year, citing the company’s “pioneering spirit, agility, and successes over the year” as an operator.
Petroleum Africa, the world’s leading magazine dedicated to following the petroleum industry in Africa, evaluated more than 200 independent exploration and production companies around the globe, both public and private, to select the winners of its 4th Annual Independents Survey & Awards competition. Kosmos was the only privately held company that qualified as a contender.
The winners in each category were determined using criteria including, but not limited to, total African acreage, number of African discoveries, total African production, total Africa exit reserves, technical achievements, overall progress in Africa during the year and major milestones in Africa. Companies were grouped by their market capitalization to ensure fair comparisons, and only 2007 data were analyzed.
“Kosmos is honored to have been chosen by Petroleum Africa magazine as a winner in several categories,” said James C. Musselman, Kosmos Chairman and Chief Executive Officer. “The fact that this contest had so many top-notch contenders proves that oil and gas independents are increasingly dominating activity in Africa’s exploration sector, raising the bar for E&P companies around the world – no matter what their size.”
Kosmos discovered the Jubilee Field in June 2007 when the company drilled the successful Mahogany-1 exploration well on the West Cape Three Points Block. Kosmos confirmed the find with two successful appraisal wells, the Hyedua-1 well in August 2007 and the Mahogany-2 well in May 2008. Both wells encountered significant oil accumulations. Kosmos and its field partners are developing the Jubilee Field on an accelerated production schedule, targeting first oil in 2010 from a floating production and storage offloading vessel (FPSO).
Source: Kosmos Energy