Kosmos Energy

About Kosmos Energy

Kosmos Energy is an international oil and gas exploration and company founded and head-quartered in Dallas, Texas. It is listed on the New York and London Stock Exchanges. The company is focused on frontier and emerging areas on the Atlantic Margin and has been involved in the discovery and development of the Jubilee and TEN oil fields off the coast of Ghana, as well as the discovery of significant natural gas fields offshore Senegal and Mauritania. 

Engagement with the EITI

Kosmos is an international supporting company for EITI. It is a member of the EITI multi-stakeholder group in Ghana, Mauritania and Suriname and actively engages the EITI National Committees and MSGs in other countries of operation, including Senegal and São Tomé and Príncipe. Kosmos collaborates with the EITI on information-sharing and capacity building projects in a number of countries, and it advocates for the EITI internationally, speaking on its approach to transparency at international events, engaging in public policy dialogues in the US and UK, and advocating for the adoption of the EITI in countries of operation that are not already members.

Support/Contribution to the national EITI process

  • Disclose all payments to government
  • Active member of the MSG in Ghana, Mauritania, Suriname
  • Regular engagement and information sharing with the EITI and MSG in other countries of operation (Senegal, Sao Tome and Principe)
  • Collaborative projects with the EITI around e.g. capacity building, information sharing and promoting understanding and awareness of EITI and the industry. For example, in Senegal: supported the EITI to produce public education documents on key aspects of the industry and plan to help organise an EITI-led workshop on the documents in 2018; co-hosted ‘oil & gas 101’ workshops for civil society and Ministry of Finance; sponsored MSG members to attend NRGI summer school on resource governance in Cameroon for the last two years running.
  • Facilitate exchanges between EITI groups in different countries of operation e.g. between Senegal, Ghana and Mauritania initiatives.
  • Promote EITI with host governments e.g. supported Suriname’s original EITI application. 

International Engagement with EITI

We engage in public policy discussions occurring globally around the EITI and transparency, reaffirming our believe that transparency helps us manage social and political issues and establishes Kosmos as a partner of choice e.g.:

  • In November 2017, Kosmos submitted a letter to the UK Department for Business, Energy and Industrial Strategy welcoming the UK government's efforts to enhance transparency in the oil, gas, and mining sectors – as part of the department’s review of the UK Reports on Payments to Government Regulations. This letter is available on our website here: http://www.kosmosenergy.com/pdfs/UK%20BEIS%20letter%20-%20November%2014%202017.pdf.
  • In February 2017 we published a statement on Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act in the USA: http://www.kosmosenergy.com/responsibility/Section%201504.pdf
  • In October 2015, Kosmos submitted a comment letter to the U.S. SEC as part of its rulemaking process for Section 1504 of the Dodd- Frank Wall Street Reform and Consumer Protection Act. In our letter, we highlighted our commitment to transparency, including our project level disclosure in accordance with the EU Accounting Directive. We stated that we believe that this type of disclosure is beneficial to investors, civil society, and local communities, and reflects evolving international expectations. The letter is available on our website, at http://www.kosmosenergy.com/responsibility/transparency.php
  • We host international events e.g. hosting delegations from Senegal, Mauritania, Ghana and Suriname at the annual EITI Global Conference in Lima, Peru in 2016. At the event, Suriname committed to applying to join the initiative).
  • We engage and promote transparency and the EITI at international events e.g. speaking on our approach and philosophy in this area – and why we support the EITI – at the NRGI resource governance summer school in Cameroon in August 2017.

Financial contribution to the international management of the EITI

Kosmos Energy contributed US $20,000 in 2017.

Other relevant information

We voluntarily publish all our contracts with host governments on our website and file these documents with the U.S. Securities and Exchange Commission (U.S. SEC) as part of our routine disclosures: http://www.kosmosenergy.com/responsibility/transparency.php

We originally reported our payments to government in aggregate (as well as by payment type, such as taxes, training, and surface rentals). In 2014 however, we made a policy decision to disclose payments to governments at the project level, as described in the European Union Accounting Directive – even though at the time, as a US company, we were not required to meet those standards. This was because we believe this method of disclosure is beneficial to investors, civil society, and local communities, and reflects evolving international standards. From 2018 onwards, after listing on the London Stock Exchange in 2017, Kosmos will continue to report at this level of detail per the EU Accounting Directives.

Contact 

Reg Manhas, Senior Vice President, External Affairs:  rmanhas@kosmosenergy.com

Stakeholder Statement: 

From Kosmos Energy's statement of support to the EITI:

Kosmos is a Supporting Company of the Extractive Industries Transparency Initiative (EITI), a leading global standard that strengthens governance by promoting transparency and accountability in the oil, gas, and mining industries.

We are committed to exceeding EITI requirements and have resolved to report and publish annually material payments to governments. In our Business Principles, we recognize the critical importance of resource revenues in contributing to sustainable development in our host countries.