EQUATORIAL GUINEA — The Government of Equatorial Guinea, represented by the Ministry of Mines and Hydrocarbons, has announced that Kosmos Energy has made an oil discovery in offshore Equatorial Guinea.
While giving details of the latest discovery, H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons said “We are very excited about the results of the S-5 well, the first well drilled in this ongoing exploration campaign.”
The Mines and Hydrocarons minister added that the discovery is a strong validation of our strategy to replace oil reserves by exploring the highly prospective oil basins like Rio Muni.
He also said, “We are eager to establish more oil prospects in offshore Equatorial Guinea,” adding that the discovery was good news as it meant more jobs and opportunities for our citizens and investors.
The S-5 well was drilled at a total depth of 4,400 meters and encountered 39 meters of net oil play in the Santonian reservoir, in the offshore Rio Muni Basin, the ministry of mines said in a statement.
The discovery was the first well drilled by Kosmos’ infrastructure-led exploration (ILX) in offshore Equatorial Guinea.
The statement further noted that the drilling of the S-5 well was accelerated following exciting 3D seismic acquired in 2018.
Kosmos has a 40% stake in the S-5 well and its other partners are GEPetrol which has a 20% stake and Trident Energy which controls a 40% stake in the project.
Kosmos Energy was founded in 2003 in the United States. It has interests in the upstream oil sector and has conducts exploration activities in Ghana, Mauritania, Suriname and Equitorial Guinea.
Its expanded into Equitorial Guinea in 2017 by acquiring an interest in the Ceiba Field and Okume Complex production assets.
Kosmos has interests in four exploration blocks offshore Equatorial Guinea: EG-21, EG-24, S and W.
Further evaluation work is ongoing at the S-5 well to establish the full extent of the discovered resource and determine a schedule of the development phase.