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Kosmos Energy Signs Sale And Purchase Agreement With BP Gas Marketing

Kosmos Energy (KOS,KOS.L) said that it has signed a Sale and Purchase Agreement with BP Gas Marketing Limited, a wholly owned subsidiary of BP plc.

The SPA is for 2.45 million tonnes per annum (MTPA) of liquified natural gas (LNG) from Phase 1 of the Greater Tortue Ahmeyim project for an initial term of up to 20 years.

Kosmos plans to book net proved reserves of approximately 100 million barrels of oil equivalent associated with Phase 1, as evaluated by the company's independent reserve auditor Ryder Scott Company, LP.

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