Kosmos expects to produce the first gas from GTA in the last quarter
Cosmos Energy said that the Ahmeem LNG project, jointly owned by Mauritania and Senegal, continues to make “good progress” after all its components were installed and stabilized.
The company said in its operational and financial results report for the second quarter of this year that the four wells, which have been completed, are expected to have a production capacity much higher than required.
The report added that the scope of subsea work is progressing in line with expectations with the continuation of final connection work, which will end this month.
The report confirmed that the first shipment of liquefied natural gas is expected to be exported in the last quarter of 2024.
The company reported a profit of $60 million for the second quarter, and its total revenue for the quarter was $451 million, reflecting strong average net production of about 62,100 barrels of oil per day, representing a 7% increase year over year.
The Texas-based company said that the quarter witnessed significant operational achievements, including the successful mooring of the floating production, storage and offloading (FPSO) vessel for the Ahmeem project as well as the start of oil production at the Winterfell project in the US Gulf of Mexico.
Commenting on these results, Andrew Inglis, Chairman and CEO of the company, said: “It has been a busy period for Kosmos with significant progress being made in the delivery of our development projects.”
He added: “We continue to see good progress in all major work streams in the Ahmeem project, in Mauritania and Senegal.”