Kosmos opened a significant new hydrocarbon province, the Tano Basin, with the dramatic discovery of the Jubilee Field in the deep waters offshore Ghana in 2007. The Jubilee Field straddles both the West Cape Three Points and Deepwater Tano blocks. Success at Jubilee was the result of the company’s identification of the overlooked Upper Cretaceous structural-stratigraphic play concept along the Transform Margin of Africa. It was one of the largest finds of 2007 worldwide, and the largest find of the entire decade offshore West Africa.
The company served as Technical Operator for Development at Jubilee. The Jubilee Field development was designed in a phased approach to bring first production on quickly and to apply early findings to follow-on phases. First production came in late 2010, just three and a half years from the initial discovery, a record timeframe in deepwater FPSO developments. Production from the field averaged approximately 102,000 barrels of oil per day. Kosmos and partners are pursuing debottlenecking opportunities with the Government of Ghana to further enhance performance. Additional phases are underway, and we expect to maintain a long-life production plateau at the field for several years. Jubilee remains a world-class, de-risked asset that secures Kosmos as a self-funded explorer.