Ghana's TEN oil partners agree to acquire FPSO vessel after lease ends in 2027

Kosmos Energy has announced that operating partners in Ghana’s Tweneboa, Enyenra and Ntomme (TEN) oil fields have agreed on the final terms to purchase the floating production, storage and offloading (FPSO) vessel currently operating at the field.

The vessel, which is presently under a leasing arrangement, will be acquired by the TEN partnership when the lease expires in 2027.

This move will mark a shift from leasing to full ownership by the partners.

The decision was contained in Kosmos Energy’s operational and financial update released on January 5, 2026, which noted that the final Sale and Purchase Agreement is expected to be signed in early 2026.

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The company said the switch to ownership is expected to significantly reduce operating costs at the TEN field and improve its financial position from 2026.

“As ownership is transitioned to the partnership, we expect TEN operating costs to significantly reduce and positively impact the Company’s leverage in 2026,” the update said.

Although Kosmos did not disclose the purchase price of the FPSO, it noted that the agreement forms part of its broader strategy to optimise its Ghana portfolio and strengthen cash flow.

The decision comes as the TEN fields mature, making cost control a key priority for operators. This approach could extend the commercial life of the fields and boost returns for partners.

The TEN fields are one of Ghana’s three producing offshore oil projects, alongside Jubilee and Sankofa-Gye Nyame, and remain an important contributor to the country’s petroleum output and export earnings.

MA