Kosmos Energy

“If the country wins, the company wins.” That was my core message at this year’s African Energy Week AEC, where I joined His Excellency John Abdulai Jinapor, Ghana’s Minister of Energy and Green Transition, and NJ Ayuk JD, MBA., Executive Director of the African Energy Chamber, to discuss how a shared agenda can deliver results for the country. When we appeared together at AEW in 2025, the Government of Ghana and the Jubilee Partners had signed an Memorandum of Understanding to extend the Jubilee and TEN licenses to 2040. The agreement contemplated up to $2 billion in investment, increased domestic gas supply at a lower price, and investment in the next generation of Ghanaian engineers and geologists. A year later, we have made tangible progress. The Jubilee and TEN licenses have been extended, and a new Plan of Development has been approved, creating greater certainty for future investment and drilling. New subsurface work is improving our understanding of the fields and helping guide future investment. Following a successful 2026 drilling campaign, Jubilee production has increased year-over-year. We’ve also had Ghana National Petroleum Corporation personnel working alongside our experts in Dallas and Houston, and we’re preparing to welcome more from the Petroleum Commission, Ghana. There is much more to do, but it was good to reflect on our progress, celebrate our partnership, and share the lessons learned along the way. After more than 20 years in Ghana, Kosmos Energy remains committed to building a partnership that delivers lasting value for the country. When Ghana wins, Kosmos wins.

It was a pleasure to meet with President Mohamed Ould Ghazouani last week in Nouakchott to discuss the progress we have made together and our shared ambitions for Mauritania’s energy future. At Kosmos Energy, we often say that when the country succeeds, the company succeeds. GTA is a powerful example of that principle in action. What began as an exploration opportunity more than a decade ago has become a major producing gas project, and an important foundation for the next chapter of Mauritania’s energy development. As GTA moves forward, our focus is on helping Mauritania realize the full value of its natural resources - including through domestic gas that can support more secure and affordable energy, economic development and opportunity for the Mauritanian people. Kosmos is proud to be a long-term partner of Mauritania and a leading U.S. investor in the country. I appreciated the opportunity to reaffirm that commitment with President Ghazouani and discuss how we can continue working together to build on GTA’s success and create lasting value for Mauritania.

There is something powerful about seeing GTA–Gandon stamped onto steel. This pipe is destined for Senegal, but it’s a visible part of a broader effort to connect the shared GTA resource with the domestic energy ambitions of both Senegal and Mauritania. For families and businesses in both countries, domestic gas can mean more affordable and reliable electricity, less dependence on imported fuels and a stronger foundation for investment, industrial development and jobs. With GTA Phase 1 fully ramped up and performing well, the upstream partnership is now focused on Phase 1+, which will use the existing GTA infrastructure to supply gas to domestic markets in Senegal and Mauritania, initially for power generation. That next chapter is beginning to take shape in both countries. In Senegal, Réseau Gazier du Sénégal (RGS) is advancing the northern segment of the gas pipeline that will connect the GTA hub to the 250 MW Gandon Power Plant near Saint-Louis. Land has been cleared for the onshore section, and the pipe shown here has been fabricated in China and shipped to Senegal. It is due to arrive soon. In Mauritania, the government has signed a 25-year agreement with Acwa to develop, finance, build and operate a 230 MW gas-fired power plant at N’Diago, which is expected to use gas from GTA. These are different projects in two countries, but they are part of the same larger opportunity. Together, they are turning a world-class offshore resource into reliable energy at home. Making this domestic gas vision a reality requires governments, national oil companies, upstream project partners, infrastructure providers, power developers and customers to move in step. Kosmos discovered GTA and has remained committed through its development. We will continue doing our part to bring the pieces and players together to maintain momentum and support the timely delivery of gas. There is still important commercial and execution work ahead. But the progress is real, and it is increasingly visible. Taken together, the N’Diago agreement and the words GTA–Gandon stamped on this pipe are clear signs that the shared gas resource is beginning to find a route into the economies and lives of the people of Mauritania and Senegal.

It was a pleasure to meet again with President Bassirou Diomaye Faye in New York City on the sidelines of the United Nations General Assembly to discuss the progress Senegal has made over the past year and our shared ambitions for the country’s energy future. At Kosmos Energy, we often say that when the country succeeds, the company succeeds. GTA is an important example of that principle in action. With GTA production strong and steady, our focus is on helping Senegal realize the full value of its natural resources — including through domestic gas that can support more secure and affordable energy. Kosmos is proud to be a long-term strategic partner of Senegal and the largest U.S. corporate investor in the country. I appreciated the opportunity to reaffirm that commitment with President Faye and discuss how we can continue working together to create lasting value for Senegal and its people. Photo courtesy of Seneweb

Kosmos Energy today releases its second quarter results, demonstrating continued strong execution across the business. We delivered excellent progress against our key strategic priorities for 2026: growing production, lowering costs, reducing debt and advancing our growth portfolio. Highlights from the second quarter and first half of 2026 include: - First-half production increased by approximately 18% year-on-year and operating costs were reduced by approximately 24% - Net production of approximately 71,400 barrels of oil equivalent per day, up around 12% compared with the second quarter of 2025 - Production expense of $179 million, or $25.61 per boe, approximately 25% lower year-on-year - Generated net cash provided by operating activities of ~$175 million and ~$89 million of free cash flow - More than $400 million of debt reduction during the first half, with net debt approximately 15% lower than at year-end 2025 - Jubilee gross production of approximately 72,000 barrels of oil per day during the quarter, with J76 and J77 online and J50 expected to increase gross production to more than 90,000 barrels per day - GTA gross production of approximately 2.65 mtpa, with nine gross LNG cargos lifted during the quarter and the equivalent to 18.5 during the first half - Completion of the Equatorial Guinea asset sale and the Tiberius farm-down, further high-grading the portfolio and supporting capital discipline With growing production from our core assets, lower costs, meaningful debt reduction and continued progress across our growth portfolio, Kosmos remains on track to deliver its full-year 2026 objectives. Read the full second quarter results here: https://lnkd.in/ekpggWzw

Today, Kosmos Energy released our second quarter results, highlighting the impact of disciplined execution across the business - from higher production and lower costs to continued progress across our growth portfolio. Our core assets are producing more at a lower cost. First-half production was up ~18% year-on-year, while absolute operating costs were down ~24%. This has been driven by continued momentum at Jubilee and GTA. At Jubilee, the drilling campaign is delivering towards the upper end of our expectations and demonstrating the field’s potential, with production expected to rise above 90,000 barrels of oil per day. GTA also continues to perform strongly. Nine gross LNG cargos were lifted in the quarter, bringing us to a first-half total of 18.5 cargos. Our full-year guidance of 32-36 gross LNG cargos remains unchanged. Thanks to our robust performance, our balance sheet continues to strengthen. We paid down more than $400 million of debt in the first half and remain on track to achieve our ~20% full-year debt reduction target. There is more to do in the second half, and we will continue to work hard to create a stronger, more valuable Kosmos to deliver on our full year targets to support long-term value creation for our investors. Read our full second quarter results here: https://lnkd.in/edTx-dp4