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Kosmos Energy Provides Update on Ghana and Côte d’Ivoire Maritime Boundary Arbitration

04/27/15 06:00 GMT

TEN Project continues

DALLAS--(BUSINESS WIRE)--Apr. 27, 2015-- Kosmos Energy (NYSE: KOS) announced today that the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) has issued its order in response to the provisional measures requested by the Government of Côte d’Ivoire in its ongoing maritime boundary dispute with the Government of Ghana.

Importantly, ITLOS rejected the request that Ghana suspend all ongoing exploration and development operations in the disputed area in which the Tweneboa, Enyenra, and Ntomme (TEN) project is situated until ITLOS gives its decision on the maritime boundary dispute, which is expected in late 2017. ITLOS ordered Ghana to suspend new drilling in the disputed area.

Kosmos is not a party to this arbitration process and will now await a decision by the Government of Ghana on how it will implement the provisional measures order. However, we fully expect TEN development activities will continue as planned.

The project is now more than 55 percent complete with all of the wells expected to be online at first oil already drilled. First oil is expected in the second half of 2016.

Andrew G. Inglis, chairman and chief executive officer, said: “We are pleased the TEN project can continue, and we remain confident that the boundary, as it has been drawn and respected by both Ghana and Côte d’Ivoire for over four decades based on the principle of equidistance, is both factually and legally correct, and will ultimately be sustained in this arbitration. It is also important to note that the provisional measures granted do not affect the Jubilee field.”

About Kosmos Energy

Kosmos Energy is a leading independent oil and gas exploration and production company focused on frontier and emerging areas along the Atlantic Margin. Our assets include existing production and other major development projects offshore Ghana, as well as exploration licenses with significant hydrocarbon potential offshore Ireland, Mauritania, Morocco, Portugal, Senegal, Suriname, and Western Sahara. As an ethical and transparent company, Kosmos is committed to doing things the right way. The company’s Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in the Kosmos 2013 Corporate Responsibility Report. Kosmos is listed on the New York Stock Exchange and is traded under the ticker symbol KOS. For additional information, visit

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos’ estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos’ Securities and Exchange Commission (“SEC”) filings. Kosmos undertakes no obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by applicable law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

Source: Kosmos Energy

Kosmos Energy
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Neal Shah, +1-214-445-9628
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