Aside from the J-72 and J-74 producer wells, the partnership has approved an additional five wells, including four producer wells and one injector well, in 2026. The drilling of the next producer is underway.
The partnership also received the government’s approval in late December 2025 for the license extensions for its West Cape Three Points and Deep Water Tano petroleum agreements, which cover the Jubilee and TEN fields.
Tullow’s partner has confirmed the submission of agreements to parliament for formal ratification, enabling the extension to 2040. Beginning from July 2036, Ghana National Petroleum Corporation (GNPC) will see its share in the fields increase by a further 10%.
As a result, the joint venture partners’ shares will decrease pro rata. The Jubilee plan of development has been amended to include up to 20 additional wells in the field. The TEN partnership has agreed the final sale and purchase terms to acquire the TEN FPSO at the end of its current lease in 2027.
With this in mind, Kosmos expects the sale and purchase agreement to be executed early in 2026. As ownership is transitioned to the partnership, the firm anticipates TEN operating costs to significantly reduce and positively impact its leverage in 2026.