Kosmos Energy announced Tuesday that the company has been named Explorer of the Year by the World Junior Oil & Gas Congress. Kosmos was recognized for the company's discovery of the Mahogany Field in the Republic of Ghana's deep waters announced earlier this year, possibly one of the largest oil finds in the last decade offshore West Africa.
Paul Dailly, Kosmos Senior Vice President, Exploration, accepted the award in London on behalf of the Kosmos team. The World Junior Oil & Gas Congress awards celebrate the leaders, innovators and pioneers in the junior oil and gas industry around the globe and their most outstanding achievements.
"This is proof that independent oil and gas exploration and production companies around the world have an important stake in the industry's future, especially as larger oil and gas producers have scaled back their exploration efforts during the last decade or two," said James C. Musselman, Kosmos chairman and CEO.
After Kosmos drilled the Mahogany-1 well on the West Cape Three Points Block in June 2007, the company confirmed the discovery with the Hyedua-1 well on the adjacent Deepwater Tano Block in August. Both wells encountered significant oil accumulations. Kosmos is continuing appraisal of the Mahogany Field with a high-resolution 3D seismic survey that is nearing completion. The company expects to initiate a program to drill at least three additional appraisal wells in early 2008. Kosmos also plans additional exploration drilling on the West Cape Three Points Block.
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