Exploration & Production

Ophir farms out Equatorial Guinea stake to Kosmos

Ophir Energy has signed an agreement for Kosmos Energy to acquire a 40% interest in the EG-24 exploration licence offshore Equatorial Guinea.
By Staff reporter 14 May 2018 0 30838

UK-listed Ophir Energy has signed a farm-out agreement with United States-listed Kosmos Energy that will see the US company acquire a 40% interest in the EG-24 exploration licence offshore Equatorial Guinea.

Ophir will remain as operator of the block.

The companies are expected to proceed with a 3D seismic study of the licence, which Kosmos will finance. Kosmos is also expected to carry Ophir’s costs if the partners choose to drill a well in the second phase of exploration, and it will cover its...