TEN Oil Field Partners Agree to Acquire FPSO Vessel

PARTNERS in Ghana’s Tweneboa, Enyenra and Ntomme (TEN) oil fields have agreed on final sale and purchase terms to acquire the Floating Production, Storage and Offloading (FPSO) vessel currently used at the field when its lease expires in 2027, according to Kosmos Energy. In its operational and financial update issued yesterday, Kosmos Energy said the final Sale and Purchase Agreement was expected to be executed in early 2026, marking a shift from the existing leasing arrangement to direct ownership by the TEN partnership. The company said the transition to ownership was expected to significantly reduce operating costs at the TEN field, with a positive impact on its leverage 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. The move comes as the TEN fields continue to mature, making cost control a key priority for operators. Lower operating costs could improve the economic performance of the asset over the remainder of its producing life. Kosmos did not disclose the purchase price of the FPSO but confirmed that the agreement forms part of broader efforts to optimise its Ghana portfolio and strengthen cash flow. The TEN fields are one of Ghana’s three producing offshore oil developments and remain a core component of Kosmos Energy’s West African operations.