DALLAS--(BUSINESS WIRE)--Kosmos Energy (NYSE: KOS) announced today that the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) has issued its order in response to the provisional measures requested by the Government of Côte d’Ivoire in its ongoing maritime boundary dispute with the Government of Ghana.
Importantly, ITLOS rejected the request that Ghana suspend all ongoing exploration and development operations in the disputed area in which the Tweneboa, Enyenra, and Ntomme (TEN) project is situated until ITLOS gives its decision on the maritime boundary dispute, which is expected in late 2017. ITLOS ordered Ghana to suspend new drilling in the disputed area.
Kosmos is not a party to this arbitration process and will now await a decision by the Government of Ghana on how it will implement the provisional measures order. However, we fully expect TEN development activities will continue as planned.
The project is now more than 55 percent complete with all of the wells expected to be online at first oil already drilled. First oil is expected in the second half of 2016.
Andrew G. Inglis, chairman and chief executive officer, said: “We are pleased the TEN project can continue, and we remain confident that the boundary, as it has been drawn and respected by both Ghana and Côte d’Ivoire for over four decades based on the principle of equidistance, is both factually and legally correct, and will ultimately be sustained in this arbitration. It is also important to note that the provisional measures granted do not affect the Jubilee field.”
About Kosmos Energy
Kosmos Energy is a leading independent oil and gas exploration and production company focused on frontier and emerging areas along the Atlantic Margin. Our assets include existing production and other major development projects offshore Ghana, as well as exploration licenses with significant hydrocarbon potential offshore Ireland, Mauritania, Morocco, Portugal, Senegal, Suriname, and Western Sahara. As an ethical and transparent company, Kosmos is committed to doing things the right way. The company’s Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in the Kosmos 2013 Corporate Responsibility Report. Kosmos is listed on the New York Stock Exchange and is traded under the ticker symbol KOS. For additional information, visit www.kosmosenergy.com.
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