Under the deal, a Kosmos subsidiary will acquire an 85% interest in licensing options 11/7 and 11/8 and be appointed as operator.
Kosmos will also fully fund the costs of a 3D seismic programme on each licence, as well as pay 85% of the costs already incurred by Europa to date.
The licences cover about 2000 square kilometres in the Irish Atlantic Margin and contain two undrilled prospects – Mullen in LO 11/7 and Kiernan in LO 11/8.
Europa
