Kosmos has established a leading acreage position for oil and gas exploration offshore Morocco. The company's offshore Morocco position, which totals approximately 14 million gross acres, is a post- and pre-salt Cretaceous play opportunity with substantial running room. The region contains evidence of a working hydrocarbon system, with oil shows in prior onshore and offshore drilling, as well as existing oil and gas production onshore Morocco.
Kosmos has secured a premier position in the offshore Agadir Basin operating three large blocks: Essaouira, Foum Assaka, and Tarhazoute. The Agadir Basin is an underexplored basin with a variety of exploration plays, including our core geologic theme in the late Cretaceous formation. In addition, the Agadir Basin is a salt basin that provides significant hydrocarbon trapping opportunities. We are processing and interpreting 3D seismic data from our 2012 data acquisition as we mature the substantial prospectivity on the blocks. The company is planning for initial exploration drilling as early as late 2013.
The Cap Boujdour Block is located in the Aaiun Basin, one of the remaining frontier exploration provinces offshore Africa. This is an underexplored region offering Cretaceous targets with multiple independent play fairways. We are maturing the substantial prospectivity on the block from prior seismic acquisition.