LNG

Oct 24 (LNGJ) - Kosmos Energy, the company developing LNG projects with BP offshore Senegal and Mauritania, has agreed to acquire an interest in three exploration licenses offshore Sao Tome in the Gulf of Guinea as well as interests in the adjacent Ceiba Field and Okume Complex assets offshore Equatorial Guinea from the US Hess Corporation. Kosmos said it was acquiring the assets on a full partnership basis with UK private equity-backed firm Trident Energy. The gross acquisition price is $650 million, including net cash of $250M when the deal is closed. “The Ceiba and Okume fields, which our team originally discovered and managed, provide low-cost, high-margin production with several identified opportunities for resource and value upside,” said Kosmos Chief Executive Andrew Inglis.