b'Production Optimization and ExploitationGrowing Base Production 2018-2021E (mboepd)2Growth from Existing Reserve Base802018: 1P Organic RRR 1>130% 60Including Acquisitions >450%40High Margin200High Rate of Return 2018 2019E 2020E 2021E Gulf of Mexico (base)GhanaEquatorial Guinea (base)OUR PRODUCTION IS CHARACTERIZED BY LOW LIFTING COSTS ANDLOW FINDING AND DEVELOPMENT COSTS, RESULTING IN HIGH MARGIN BARRELS.Our strong production baseIn Ghana, we expect toaddition to other activities, underpins the value of Kosmosgrow production organicallyhas helped to deliver the first today. Growth is expectedthrough a two rig drillingincrease in oil production from to come from the existingprogram with seven wellsCeiba and Okume since 2010. reserve base, supportedplanned for 2019. Our goal isIn the Gulf of Mexico, we by the organic 1P reserveto increase production towardexpect to increase net replacement ratio in 2018 offacility capacity at bothproduction on the basis over 130%. With the Gulf ofJubilee and TEN.of infill drilling on existing Mexico acquisition, our 2018In Equatorial Guinea, wefields, drilling infrastructure-reserve replacement ratio isexpect that production willled exploration targets, and more than 450%. continue to be sustained byprogressing development of Importantly, our productionhigh rate of return well workdiscoveries via subsea tie-back is characterized by low liftingprojects, such as installationto existing infrastructure.costs and low finding andof electrical submersible development costs, resultingpumps and a well acidization in high margin barrels. program. This agenda, in 1.Reserve Replacement Ratio2. Base business production in Gulf of Mexico and Equatorial Guinea excludes any growth from infrastructure-led exploration4'