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Kosmos Energy Ltd - Report on Payments to Govts

06/24/21 06:00 GMT
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RNS Number : 8820C
Kosmos Energy Limited
24 June 2021
 

Kosmos Energy Ltd

Report on payments to government for the year 2020

 

Introduction

Kosmos Energy Ltd. has prepared the following consolidated report in respect of payments made to governments for the year ended 31 December 2020 in accordance with the Reports on Payments to Governments Regulations 2014 (2014/3209) as amended by the Reports on Payments to Governments (Amendment) Regulations 2015 (2015/1928) and DTR 4.3A of the Financial Conduct Authority's Disclosure and Transparency Rules.

 

Payments to Governments (USD (1)

 

 

 

Cote d'Ivoire

 

 

Equatorial Guinea

 

 

Ghana

 

 

Mauritania

Sao Tome &

Principe

 

 

Senegal

 

 

Suriname

 

 

United States

Production Entitlements (bbls) (2)

-

583,000

-

-

-

-

-

-

Estimated Production Entitlements ($s) (2)

$                        -

$         24,130,000

$                        -

$                        -

$                        -

$                        -

$                        -

$                        -

Income Taxes (3)

$                        -

$          78,772,000

$        37,600,000

$                        -

$                        -

$                        -

$                        -

$                 19,000

Royalties (bbls) (2)

-

574,000

518,000

-

-

-

-

952,000

Estimated Royalties ($s) (2)

$                        -

$          23,758,000

$         21,440,000

$                        -

$                        -

$                        -

$                        -

$         36,826,000

Dividends

$                        -

$                        -

$                        -

$                        -

$                        -

$                        -

$                        -

$                        -

Bonuses

$                        -

$                        -

$                        -

$                        -

$                        -

$                        -

$                        -

$               125,000

License Fees (Surface Rentals, Permitting Fees, etc)

$                        -

$                        -

$                  26,000

$                        -

$                        -

$                        -

$                        -

$           2,125,000

Infrastructure Improvement

$                        -

$                        -

$                        -

$                        -

$                        -

$                        -

$                        -

$                        -

Envt, Capacity Building & Social Projects (4)

$              750,000

$                        -

$                        -

$                        -

$                        -

$                        -

$                        -

$                        -

Training (4)

$               750,000

$               500,000

$                        -

$                        -

$                80,000

$                        -

$                        -

$                        -

Taxes (Non-Income) (5)

$               319,000

$               210,000

$            6,686,000

$               467,000

$             122,000

$               237,000

$               477,000

$           4,146,000

Other (6)

$                  13,000

$                        -

$                        -

$                        -

$              400,000

$                        -

$                        -

$                        -

Total

$            1,832,000

$       127,370,000

$          65,752,000

$               467,000

$               602,000

$               237,000

$               477,000

$         43,241,000

FOOTNOTES

The Payments to Government data are reflective of direct payments made to government entities by Kosmos Energy. These payments are categorized consistent with the Report on Payments to Governments Regulations 2014 (as amended in December 2015). These regulations enact domestic rules in line with Directive 2013/34/EU (the EU Accounting Directive (2013). Please see the footnotes below for further detail on the payments we made to our host country governments in 2020.

(1)  Our summary, project-level and receiving-entity level payments to government disclosures are also available on our website at www.kosmosenergy.com/transparency

(2)  Royalties are paid to the Government of Ghana and the Republic of Equatorial Guinea in barrels of oil out of Kosmos Energy's working interest share of production. Production entitlements are paid to the Republic of Equatorial Guinea in barrels of oil based on their participating interest. The production entitlement amounts presented represent Kosmos Energy's participating share received by the Republic of Equatorial Guinea. The value of the royalties and production entitlements disclosed above are based on the annual average of daily Brent prices of $41.39 during 2020. United States amounts above are determined based on actual sales prices.

(3)  Exclusive of any income tax refunds received

(4)  Represents payments made directly to government for satisfaction of obligations per the Petroleum Agreements and/or Petroleum Sharing Contracts (PSCs), as applicable. In addition to the numbers above, Kosmos made payments to third party training providers and/or national oil company employees in accordance with training obligations per the PSCs totaling $466,000 in Equatorial Guinea and $2,000 in Sao Tome and Principe.

(5)  Primarily withholding taxes on interest payments, employer paid payroll-related taxes, and property taxes paid on pipe and tangible goods inventory stored at various onshore locations in the United States. These values are exclusive of withholding taxes remitted on behalf of service providers.

(6)  Primarily relates to transactional transfer fees.

 
                   

 

Payments to Governments

Receiving Entity- Level Disclosures (1)

 

 

 

Production Entitlements (bbls) (2)

 

Estimated Production Entitlements ($s) (2)

 

 

 

Income Taxes (3)

 

 

 

Royalties (bbls) (2)

 

 

Estimated Royalties ($s) (2)

 

 

 

 

Dividends

 

 

 

 

 

Bonuses

License Fees (Surface Rentals, Permitting Fees,

etc)

 

 

 

Infrastructure Improvement

Environment, Capacity Building & Social Projects

(4)

 

 

 

 

 

Training (4)

 

 

Taxes (Non- Income)

(5)

 

 

 

 

 

Other (6)

 

 

 

 

 

TOTAL

CDI Block CI-526

-

-

-

-

-

-

-

-

-

150,000

150,000

63,800

2,600

$          366,400

CDI Block CI-602

-

-

-

-

-

-

-

-

-

150,000

150,000

63,800

2,600

$           366,400

CDI Block CI-603

-

-

-

-

-

-

-

-

-

150,000

150,000

63,800

2,600

$           366,400

CDI Block CI-707

-

-

-

-

-

-

-

-

-

150,000

150,000

63,800

2,600

$           366,400

CDI Block CI-708

-

-

-

-

-

-

-

-

-

150,000

150,000

63,800

2,600

$           366,400

Total Cote d'Ivoire

-

$                     -

$                     -

-

$                     -

$                     -

$                     -

$                     -

$                     -

$           750,000

$          750,000

$           319,000

$             13,000

$        1,832,000

Ceiba Field

182,000

7,533,000

-

210,000

8,692,000

-

-

-

-

-

-

-

-

$     16,225,000

Okume Complex Field

401,000

16,597,000

-

364,000

15,066,000

-

-

-

-

-

-

-

-

$     31,663,000

Equatorial Guinea Block S

-

-

-

-

-

-

-

-

-

-

100,000

52,500

-

$           152,500

Equatorial Guinea Block W

-

-

-

-

-

-

-

-

-

-

100,000

52,500

-

$           152,500

Equatorial Guinea Block 21

-

-

-

-

-

-

-

-

-

-

100,000

52,500

-

$           152,500

Equatorial Guinea Block 24

-

-

-

-

-

-

-

-

-

-

200,000

52,500

-

$           252,500

Company Level - Kosmos Equatorial Guinea, Inc.

-

-

78,771,000

-

-

-

-

-

-

-

-

-

-

$     78,771,000

Company Level - Kosmos Energy Equatorial Guinea

-

-

1,000

-

-

-

-

-

-

-

-

-

-

$                1,000

Total Equatorial Guinea

583,000

$      24,130,000

$      78,772,000

574,000

$      23,758,000

$                     -

$                     -

$                     -

$                     -

$                     -

$          500,000

$           210,000

$                    -

$ 127,370,000

Jubilee

-

-

-

367,000

15,190,000

-

-

-

-

-

-

-

-

$     15,190,000

TEN

-

-

-

151,000

6,250,000

-

-

-

-

-

-

-

-

$        6,250,000

West Cape Three Points

-

-

-

-

-

-

-

13,000

-

-

-

-

-

$             13,000

Deepwater Tano

-

-

-

-

-

-

-

13,000

-

-

-

-

-

$             13,000

Company Level

-

-

37,600,000

-

-

-

-

-

-

-

-

6,686,000

-

$     44,286,000

Total Ghana

-

$                     -

$      37,600,000

518,000

$      21,440,000

$                     -

$                     -

$             26,000

$                     -

$                     -

$                     -

$       6,686,000

$                    -

$     65,752,000

Company Level

-

-

-

-

-

-

-

-

-

-

-

467,000

-

$           467,000

Total Mauritania

-

$                     -

$                     -

-

$                     -

$                     -

$                     -

$                     -

$                     -

$                     -

$                     -

$           467,000

$                    -

$           467,000

Sao Tome Block 6

-

-

-

-

-

-

-

-

-

-

-

-

100,000

$           100,000

Sao Tome Block 10

 

 

 

 

 

 

 

 

 

 

 

 

100,000

$           100,000

Sao Tome Block 11

-

-

-

-

-

-

-

-

-

-

-

-

100,000

$           100,000

Sao Tome Block 12

-

-

-

-

-

-

-

-

-

-

80,000

-

-

$             80,000

Sao Tome Block 13

 

 

 

 

 

 

 

 

 

 

 

 

100,000

$           100,000

Company Level

-

-

-

-

-

-

-

-

-

-

-

122,000

-

$           122,000

Total Sao Tome and Principe

-

$                     -

$                     -

-

$                     -

$                     -

$                     -

$                     -

$                     -

$                     -

$             80,000

$           122,000

$           400,000

$           602,000

Company Level

-

-

-

-

-

-

-

-

-

-

-

237,000

-

$           237,000

Total Senegal

-

$                     -

$                     -

-

$                     -

$                     -

$                     -

$                     -

$                     -

$                     -

$                     -

$           237,000

$                    -

$           237,000

Suriname Block 42

-

-

-

-

-

-

-

-

-

-

-

-

-

$                    -

Suriname Block 45

-

-

-

-

-

-

-

-

-

-

-

-

-

$                    -

Company Level

-

-

-

-

-

-

-

-

-

-

-

477,000

-

$           477,000

Total Suriname

-

$                     -

$                     -

-

$                     -

$                     -

$                     -

$                     -

$                     -

$                     -

$                     -

$           477,000

$                    -

$           477,000

Mississippi Canyon

-

-

-

448,000

19,018,000

-

-

1,072,000

-

-

-

-

-

$     20,090,000

De Soto Canyon

-

-

-

-

-

-

-

550,000

-

-

-

-

-

$           550,000

Garden Banks

-

-

-

21,000

660,000

-

-

66,000

-

-

-

-

-

$           726,000

Green Canyon

-

-

-

483,000

17,148,000

-

-

147,000

-

-

-

-

-

$     17,295,000

Keathley Canyon

-

-

-

-

-

-

-

219,000

-

-

-

-

-

$           219,000

Walker Ridge

-

-

-

-

-

-

125,000

63,000

-

-

-

-

-

$           188,000

Company Level

-

-

19,000

-

-

-

-

8,000

-

-

-

4,146,000

-

$        4,173,000

Total United States of America

-

$                     -

$             19,000

952,000

$      36,826,000

$                     -

$           125,000

$       2,125,000

$                     -

$                     -

$                     -

$       4,146,000

$                    -

$     43,241,000

Total

583,000

$     24,130,000

$ 116,391,000

2,044,000

$     82,024,000

$                    -

$           125,000

$        2,151,000

$                    -

$           750,000

$        1,330,000

$     12,664,000

$           413,000

$ 239,978,000

 

 

Payments to Governments -

Receiving Entity- Level Disclosures (1)

 

 

 

Production Entitlements (bbls) (2)

 

Estimated Production Entitlements ($s) (2)

 

 

 

Income Taxes (3)

 

 

 

Royalties (bbls) (2)

 

 

Estimated Royalties ($s) (2)

 

 

 

 

 

Dividends

 

 

 

 

 

Bonuses

License Fees (Surface Rentals, Permitting

Fees, etc)

 

 

 

Infrastructure Improvement

Environment, Capacity Building & Social Projects

(4)

 

 

 

 

 

Training (4)

 

 

Taxes (Non- Income)

(5)

 

 

 

 

 

Other (6)

 

 

 

 

 

TOTAL

Caisse Nationale De Prevoyance Sociale

-

-

-

-

-

-

-

-

-

-

-

17,000

-

$                17,000

Direction Generale des Hydrocarbures

-

-

-

-

-

-

-

-

-

750,000

750,000

-

-

$           1,500,000

Direction Generale Des Impotes

-

-

-

-

-

-

-

-

-

-

-

302,000

-

$              302,000

Petroci Holding

-

-

-

-

-

-

-

-

-

-

-

-

13,000

$                13,000

Total Cote d'Ivoire

-

$                    -

$                     -

-

$                     -

$                    -

$                    -

$                    -

$                    -

$          750,000

$         750,000

$        319,000

$             13,000

$           1,832,000

Ministry of Mines and Hydrocarbons

583,000

24,130,000

-

574,000

23,758,000

-

-

-

-

-

300,000

-

-

$        48,188,000

Tresoreria General Del Estado

-

-

78,772,000

-

-

-

-

-

-

-

-

108,000

-

$          78,880,000

Instituto Nacional de Seguridad Social de Guinea Ecuatorial

-

-

-

-

-

-

-

-

-

-

-

89,500

-

$                 89,500

Fondo de Formacion del Ministerio de Minas e

-

-

-

-

-

-

-

-

-

-

200,000

-

-

$               200,000

Ministerio De Transportes

-

-

-

-

-

-

-

-

-

-

-

-

-

$                          -

Ministerio De Trabajo

-

-

-

-

-

-

-

-

-

-

-

500

-

$                       500

Ministerio De Hacienda Y Presupuestos

-

-

-

-

-

-

-

-

-

-

-

12,000

-

$                 12,000

Tresor Public De Guinee Equatoriale Depots

-

-

-

-

-

-

-

-

-

-

-

-

-

$                          -

Total Equatorial Guinea

583,000

$     24,130,000

$      78,772,000

574,000

$      23,758,000

$                    -

$                    -

$                    -

$                    -

$                    -

$          500,000

$        210,000

$                    -

$       127,370,000

Government of Republic of Ghana

-

-

-

518,000

21,440,000

-

-

-

-

-

-

-

-

$          21,440,000

Petroleum Commission of Ghana

-

-

-

-

-

-

-

26,000

-

-

-

1,000

-

$                  27,000

Social Security & Nat'l Insura

-

-

-

-

-

-

-

-

-

-

-

212,000

-

$                212,000

Ghana Revenue Authority

-

-

37,600,000

-

-

-

-

-

-

-

-

6,473,000

-

$          44,073,000

Total Ghana

-

$                    -

$     37,600,000

518,000

$      21,440,000

$                    -

$                    -

$            26,000

$                    -

$                    -

$                    -

$       6,686,000

$                    -

$          65,752,000

Caisse Nationale D'Assuramce Maladie

-

-

-

-

-

-

-

-

-

-

-

92,000

-

$                  92,000

Caisse Nationale De Securite Sociale

-

-

-

-

-

-

-

-

-

-

-

2,000

-

$                    2,000

Tresorier General

-

-

-

-

-

-

-

-

-

-

-

373,000

-

$                373,000

Total Mauritania

-

$                    -

$                     -

-

$                     -

$                    -

$                    -

$                    -

$                    -

$                    -

$                    -

$        467,000

$                    -

$                467,000

Agencia Nacional Do Petroleo De Sao Tome E

-

-

-

-

-

-

-

-

-

-

80,000

-

400,000

$                480,000

INSS - Instituto Nacional De Seguranca Social

-

-

-

-

-

-

-

-

-

-

-

32,000

-

$                  32,000

Tesouro Publico

-

-

-

-

-

-

-

-

-

-

-

90,000

-

$                  90,000

Total Sao Tome & Principe

-

$                    -

$                     -

-

$                     -

$                    -

$                    -

$                    -

$                    -

$                    -

$            80,000

$        122,000

$          400,000

$                602,000

Chef du Bureau de Recouvrement

-

-

-

-

-

-

-

-

-

-

-

$        237,000

$                    -

$                237,000

Total Senegal

-

$                    -

$                     -

-

$                     -

$                    -

$                    -

$                    -

$                    -

$                    -

$                    -

$        237,000

$                    -

$                237,000

Ontvanger der Direkte Belastingen

-

-

-

-

-

-

-

-

-

-

-

477,000

-

$                477,000

Total Suriname

-

$                    -

$                     -

-

$                     -

$                    -

$                    -

$                    -

$                    -

$                    -

$                    -

$        477,000

$                    -

$                477,000

ONRR

-

-

-

952,000

36,826,000

-

125,000

2,125,000

-

-

-

-

-

$          39,076,000

Various

-

-

19,000

-

-

-

-

-

-

-

-

4,146,000

-

$             4,165,000

Total United States of America

-

$                    -

$            19,000

952,000

$      36,826,000

$                    -

$          125,000

$      2,125,000

$                    -

$                    -

$                    -

$      4,146,000

$                    -

$          43,241,000

Total

583,000

$ 24,130,000

$ 116,391,000

2,044,000

$      82,024,000

$                    -

$          125,000

$       2,151,000

$                    -

$          750,000

$      1,330,000

$ 12,664,000

$         413,000

$        239,978,000

FOOTNOTES

The Payments to Government data are reflective of direct payments made to government entities by Kosmos Energy. These payments are categorized consistent with the Report on Payments to Governments Regulations 2014 (as amended in December 2015). These regulations enact domestic rules in line with Directive 2013/34/EU (the EU Accounting Directive (2013). Please see the footnotes below for further detail on the payments we made to our host country governments in 2020.

(1)  Our summary, project-level and receiving-entity level payments to government disclosures are also available on our website at www.kosmosenergy.com/transparency

(2)  Royalties are paid to the Government of Ghana and the Republic of Equatorial Guinea in barrels of oil out of Kosmos Energy's working interest share of production. Production entitlements are paid to the Republic of Equatorial Guinea in barrels of oil based on their participating interest. The production entitlement amounts presented represent Kosmos Energy's participating share received by the Republic of Equatorial Guinea. The value of the royalties and production entitlements disclosed above are based on the annual average of daily Brent prices of $41.39 during 2020. United States amounts above are determined based on actual sales prices.

(3)  Exclusive of any income tax refunds received

(4)  Represents payments made directly to government for satisfaction of obligations per the Petroleum Agreements and/or Petroleum Sharing Contracts (PSCs), as applicable. In addition to the numbers above, Kosmos made payments to third party training providers and/or national oil company employees in accordance with training obligations per the PSCs totaling $466,000 in Equatorial Guinea and $2,000 in Sao Tome and Principe.

(5)  Primarily withholding taxes on interest payments, employer paid payroll-related taxes, and property taxes paid on pipe and tangible goods inventory stored at various onshore locations in the United States. These values are exclusive of withholding taxes remitted on behalf of service providers.

(6)  Primarily relates to transactional transfer fees.

 
                               

 

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