Kosmos Energy has entered into a Reconnaissance Contract for the Tarhazoute Block offshore the Kingdom of Morocco. Covering 1.9 million gross acres in water depths of between 3,250 and 8,200 feet, the Tarhazoute Block is located offshore in the Agadir basin immediately between the Company’s Essaouira and Foum Assaka Blocks.
Kosmos will be the operator of the Tarhazoute Block with a 100 percent working interest. The Reconnaissance Contract has a one-year term, after which the Company has the right to enter into a petroleum agreement for the acreage. Kosmos will initially reprocess existing 2D seismic.
Also, Kosmos yesterday announced that it has executed two Production Sharing Contracts with Staatsolie Maatschappij Suriname N.V., the national oil company of Suriname, for Blocks 42 and 45 offshore Suriname.
Brian F. Maxted, President and Chief Executive Officer , stated, “With our executed agreement over the Tarhazoute area, we have now licensed the large majority of the Agadir basin petroleum system and our 3D seismic acquisition program is underway, beginning in the Essaouira Block. Since our IPO in May of this year, we have added over nine million gross acres with significant prospectivity. This new acreage offshore Suriname and Morocco follows on the heels of the recently-added pre- and post-salt Essaouira and Foum Assaka blocks offshore Morocco. These are the types of opportunities we will continue to identify and seek, focused on delivering a program of high-impact, play-opening exploration wells beginning in late 2012 and beyond.”
[mappress] Offshore Energy Today Staff, December 15, 2011; Image: Kosmos Energy