Africa’s abundant hydrocarbon reserves, comprising approximately 125.3 billion barrels of crude oil and 620 trillion cubic feet of proven gas, offer lucrative investment opportunities for global E&P players and serve as a cornerstone for achieving the continent’s industrialization objectives.
As African nations collaborate with global E&P firms possessing both financial resources and technical expertise to maximize the development and utilization of these reserves, forming alliances with companies like the U.S.-based global energy firm Kosmos Energy becomes indispensable.
In line with its commitment to catalyzing investment for the sustainable advancement of the African energy sector, Kosmos Energy has joined as a diamond sponsor at this year’s African Energy Week (AEW): Invest in African Energy conference.
AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
Kosmos Energy’s participation in this year’s AEW: Invest in African Energy marks its third consecutive year of participating, with the company advocating for inclusive strategies regarding Africa’s pathway to eliminating energy poverty and shaping global energy security. During this year’s edition, Kosmos Energy will build upon previous discussions, emphasizing its ongoing focus on bolstering investments within the continent. As a leading energy investor in Africa and a trusted partner in oil and gas development, Kosmos Energy continues to influence the stability and growth of African energy markets and economies.
In Senegal and Mauritania, Kosmos Energy has emerged as an investment champion, advancing these nations closer to first gas production through the development of the Greater Tortue Ahmeyim liquified natural gas (LNG) project, slated to commence gas production this year. Kosmos Energy also assumed operatorship of the Yakaar-Teranga project in Senegal in November 2023, underscoring its commitment to driving investments towards unlocking Senegal’s full energy potential. Yakaar-Teranga is one of the world’s largest gas discoveries in recent years and holds around 25 trillion cubic feet (Tcf) of advantaged gas in place. Kosmos Energy has been working closely with PETROSEN and the Government of Senegal on an innovative development concept that prioritizes cost-competitive gas to the rapidly growing domestic market, combined with an offshore liquefied natural gas facility targeting exports into international markets. As concept optimization progresses, the aim is for PETROSEN to participate as an equal partner in the full value chain with a greater working interest.
In Ghana, Kosmos Energy’s investments are pivotal in shaping the stability of the oil and gas industry, with the firm expanding its production in-country through the successful launch of the Jubilee South East Project in 2023. Kosmos Energy is also investing in oil and gas decarbonization solutions at the Jubilee and TEN fields in Ghana, with a target to eliminate routine gas flaring by 2026, highlighting its commitment to helping Africa balance industrialization and environmental sustainability targets at the same time. Additionally, the company continues to support the development of Ghana’s next-generation workforce through initiatives like the Kosmos Innovation Center (https://KICGhana.org/), which helps young entrepreneurs turn their ideas into viable businesses and works alongside promising small businesses to help them reach their full potential.
In Equatorial Guinea, Kosmos Energy continues to make significant strides with investments in optimizing production at the Ceiba and Okume fields, as well as exploration with the Akeng Deep prospect.
“Kosmos Energy’s activities across the African market have played a pivotal role in stabilizing investment flows within the continent’s oil and gas industry. With Africa’s pursuit of sustainable development hinging on the full exploitation of energy resources, investments from companies like Kosmos Energy will be essential in unlocking new opportunities across the energy sector and related industries,” said NJ Ayuk, the Executive Chairman of the African Energy Chamber.
Distributed by APO Group on behalf of African Energy Chamber.
