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Kosmos Energy oil and gas exploration summary

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Report summary

Kosmos Energy was founded as a high-impact, frontier explorer in 2003. The company has carved out a niche focused on frontier deepwater exploration of the Atlantic Margin and was a ‘first mover' into Ghana, leading to the play-opening discovery of the Jubilee field in 2007. This high-impact discovery created excellent full-cycle value for the company, though subsequent discoveries have been more marginal. Exploration is central to Kosmos' strategy, and portfolio re-loading has opened new frontier exploration opportunities in a small number of countries. Since 2015, it has made a successful return to high-impact exploration drilling, discovering over 40 tcf of gas offshore Mauritania and Senegal. A deal signed with BP will help monetise this gas and drive future value creation.

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    Kosmos Energy oil and gas exploration summary

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Table of contents

  • Executive summary
    • Upstream strategy
    • Exploration strategy
    • Evolution of exploration strategy
  • Investment and costs
    • Well data
    • Scope of this report
    • Production from new field discoveries as a proportion of all future production
    • Initial focus on Gulf of Guinea brought almost instant success
    • Successful return to high-impact exploration offshore Mauritania and Senegal
    • Giant discoveries, plus good contract terms, drive excellent economic performance

Tables and charts

This report includes 23 images and tables including:


  • Executive summary: Image 1
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Net active exploration acreage by water depth
  • Net active exploration acreage by country
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production: Image 1
  • Full cycle value creation by year
  • Exploration returns by year
  • Cost and development value by reserve category
  • Value creation by water depth


  • Ten year performance summary
  • Full-cycle economics
  • Strategy: Table 1
  • Gross exploration & appraisal wells by basin and sector
  • Discoveries (2007 to 2016)

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