Agadir Basin
We are the operator of the Foum Assaka Offshore, Essaouira Offshore and Tarhazoute Offshore
blocks, which are located in the Agadir Basin. A working petroleum system has been established in the
onshore area of the Agadir Basin based on onshore and shallow offshore wells. Existing well data and
geological and geochemical studies have demonstrated the presence of Cretaceous source rocks in the
acreage. Onshore production suggests that possible Jurassic source rocks are also present in the
offshore Agadir Basin. The offshore Agadir Basin sediments are interpreted to comprise thick
sequences of Lower to Upper Cretaceous age formations consisting of deep water channels and lobes.
The interpreted prospects’ trapping styles are varied and include pre-salt ponded slope fans, salt domes,
salt cored anticlines and sub-salt structures.
In January 2013, we closed on an agreement to acquire an additional 37.5% participating interest
in the Essaouira Offshore block from Canamens Energy Morocco SARL, one of our block partners.
Governmental approvals and processes for this acquisition were finalized in November 2013.
In August 2013, final government approvals and processes were completed for the acquisition of an
additional 18.75% participating interest in the Foum Assaka block in the Agadir Basin offshore
Morocco from Pathfinder Hydrocarbon Ventures Limited (‘‘Pathfinder’’), a wholly owned subsidiary of
Fastnet Oil and Gas plc (‘‘Fastnet’’), one of our block partners.
In October 2013, we entered into three farm-out agreements with BP plc (‘‘BP’’) covering our
three blocks in the Agadir Basin, offshore Morocco. Under the terms of the agreements, BP will
acquire a non-operating interest in each of the Essaouira Offshore, Foum Assaka Offshore and
Tarhazoute Offshore blocks. BP will fund Kosmos’ share of the cost of one exploration well in each of
the three blocks, subject to a