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Source: energynewsafrica
Kosmos Energy’s Chief Executive Officer, Mr. Andrew G. Inglis, has reaffirmed the company’s commitment to continue partnering with Ghana and Senegal to develop their oil and gas resources, in order to spur economic growth and improve the welfare of their citizens.
He noted that both Ghana and Senegal have adopted gas-to-power policies, signaling their commitment to using natural gas as a primary fuel for electricity generation.
Speaking during a panel discussion moderated by Mr. NJ Ayuk, Chairman of the African Energy Chamber (AEC), at the just-ended African Energy Week in Cape Town, South Africa, Mr. Inglis emphasized that natural gas remains a cheaper fuel option for power generation compared to other energy sources.
He expressed optimism that gas prices in Ghana would become even lower as Kosmos and its partners have decided to invest US$2 billion in the Jubilee Oil Field.
Mr. Inglis commended Ghana’s impressive achievements in gas development, noting that the West African nation’s gas prices are even lower than those in Texas, USA—one of the world’s most advanced energy markets.
The Kosmos CEO stated that the company’s future oil and gas development strategy would focus on cost-effectiveness to support the local economies of both Ghana and Senegal.
“Kosmos can only win if the country wins and prioritizes the interests of its development partners before considering Kosmos’ profit,” Mr. Inglis assured.
He further observed that massive investments in oil and gas production have a ripple effect on host nations’ infrastructure development—such as roads, schools, hospitals, and other social services—thereby boosting socioeconomic progress.
It is for this reason, he said, that Kosmos Energy plans to invest US$2 billion in Ghana’s energy sector to maximize output from the Jubilee and TEN fields by extending their operating licenses to 2040.
If the investment initiative proves successful, it will result in the drilling of 20 additional wells and a continuous reduction in routine gas flaring.
Kosmos Energy also plans to enhance local economic opportunities through initiatives such as its Innovation Center Project, which supports environmental sustainability by funding reforestation and carbon offset projects in its partner countries.
In Senegal, the company intends to focus on developing the Greater Tortue Ahmeyim (GTA) field, with the aim of providing domestic energy to stimulate economic growth while reducing emissions by displacing heavy fuel oil.
Kosmos Energy is also targeting investments in community development through support for entrepreneurship and local livelihood projects.
Ghana’s Minister for Energy and Green Transition, John Abdulai Jinapor, who was also on the panel, affirmed Ghana’s commitment to working with investors like Kosmos, emphasizing that Ghana seeks partnerships that ensure a sustainable win-win outcome.
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