Fossil Energy – FPSO
Kosmos Energy and its partners have agreed to acquire Ghana’s Attah Mills floating production, storage and offloading (FPSO) vessel at the end of its lease in 2027.
Named after Ghana’s former President, the FPSO vessel is crucial for Ghana’s Tweneboa, Enyenra, and Ntomme (TEN) oil fields.
Last week, Kosmos announced that the final sale and purchase terms have been agreed upon, with the formal agreement expected to be executed early this year.
The decision to acquire the vessel comes as Kosmos reported strong operational gains in Ghana, where the Jubilee field has been boosted by the successful drilling of the J-74 producer well.
The well is expected to deliver more than 10,000 b/d, lifting gross output at Jubilee to nearly 70,000 b/d at the start of 2026, compared with an average of 59,000 b/d in the final quarter of 2025.
In addition to the FPSO acquisition, the partnership has approved five new wells for 2026. Ghana’s government also granted licence extensions in December 2025 for the West Cape Three Points and Deep Water Tano petroleum agreements, which, once ratified by parliament, will extend production at the Jubilee and TEN fields until 2040.
Kosmos said the transition to partnership ownership of the FPSO will reduce costs and improve margins, following a third quarter in which Ghana was the company’s strongest performer. Gross oil output in the country reached 62,500 b/d, a 13% increase quarter-on-quarter, while net production attributable to Kosmos stood at 31,300 barrels of oil equivalent per day (boe/d). Operating costs fell nearly 40% compared with the previous quarter, with capital expenditure kept below guidance at $67m.
The developments come against the backdrop of Ghana’s wider oil industry struggles. National output has been in decline since peaking at 72.44m barrels in 2019, with low reinvestment and natural declines in mature offshore fields straining efforts to meet rising domestic energy demand.
