Kosmos Hits Oil Pay in Equatorial Guinea

(Bloomberg) -- Kosmos Energy Ltd. made an offshore oil discovery in Equatorial Guinea, according to the Ministry of Mines and Hydrocarbons.
The S-5 well was drilled to a 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 said in an emailed statement.
Equatorial Guinea is struggling to recover from a slump in drilling activity and oil and gas production. The discovery is the first well in the campaign by Kosmos.
“The discovery is a strong validation of our strategy to replace oil reserves by exploring the highly prospective oil basins like Rio Muni,” the nation’s Minister of Mines, Industry and Energy Gabriel Obiang said in the statement.
Further evaluation work is ongoing to determine the extent of the discovery and determine a schedule of the development phase, the ministry said.
To contact the reporter on this story:
Paul Burkhardt in Johannesburg at pburkhardt@bloomberg.net
To contact the editors responsible for this story:
James Herron at jherron9@bloomberg.net
Sara Marley
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- 2020 is Arguably Worst Year for American Oil Sector
- Eni Secures North Sea License
- Pemex Misses 2020 Target
- Biden Admin Issues 30+ Drilling Permits
- Biden Leasing Ban to Yield Uneven Impact
- Exxon Activist Investor Nominates Directors
- Subsea Expo 2021 Scrapped
- Oil Up After Report Points to Drop in US Stockpiles
- Permian Operator Relocates Headquarters
- Will Q4 Earnings Show Worst Is Over for Majors?
- Biden Set to Freeze Oil Leasing on Federal Land
- DOE Announces New Senior Leaders
- Oil Groups Talk Federal Lease Freeze
- Equinor SVP Joins Aker Solutions
- Iran Says it is Reviving Oil Output
- 2020 is Arguably Worst Year for American Oil Sector
- China Oil Demand at Risk
- Iraq to Lower Oil Production
- Eni Secures North Sea License
- TechnipFMC Wins Egypt Subsea Tieback Contract
- Executives Predict 2021-End Oil Price
- Shale Needs More to Boom Again
- Oil Discovery Made in US Gulf of Mexico
- Biden Set to Freeze Oil Leasing on Federal Land
- BLM Finalizes Alaska Activity Plan
- TC Energy Reacts to Keystone Pipeline Development
- Qatar and Four Arab States to Fully Restore Ties
- ADNOC Creates New Directorate
- Alberta Leader Urges Keystone Retaliation
- Total Makes Significant Oil Find