Kosmos in new Cameroon project

Starting bell: Latest project to kick off in African nation

AFP/SCANPIX

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By News Wires

 12 January 2012 18:10 GMT

US player Kosmos Energy signed an agreement with Cameroon's state oil company SNH on Thursday allowing it to explore in the central African state's offshore Fako block, a report said.

Kosmos will invest 9 billion CFA francs ($17.56 million) to explore within the 1,289-square-km block, which sits near Cameroon's productive Rio del Rey and Kribi-Campo basins, for six years, Reuters reported.

The deal was signed by the vice president of Kosmos' Cameroon subsidiary Christopher Stone and SNH manager Adolphe Moudiki, SNH said according to the news wire.

It adds to Kosmos' exploration efforts in two other Cameroon blocks, Kombe-N'Sepe and Ndian River.

Kosmos, backed by private equity firms Blackstone Group and Warburg Pincus, is focused on frontier areas in Western Africa and South America.

It…

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