EX-99.1 4 kos-20231231.htm EX-99.1 Document
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    Exhibit 2.01
Report on Payments to Government for the Year 2023
Kosmos Energy Ltd. has prepared the following consolidated report in respect of payments made to governments for the year ended 31 December 2023 in accordance with the Reports on Payments to Governments Regulations 2014 (2014/3209) as amended by the Reports on Payments to Governments (Amendment) Regulations 2015 (2015/1928) and DTR 4.3A of the Financial Conduct Authority’s Disclosure and Transparency Rules.
Payments to Governments (USD)1
 Unit of MeasureEquatorial GuineaGhanaMauritania São Tomé & PríncipeSenegalUnited KingdomUnited States
Income Taxes2
USD$ 82,993,000  196,890,000 --- 1,441,000  608,000
Royalties3
BOE 433,000 717,000 -  -  -  -  927,000
Royalties4
USD$ 35,783,000  55,220,000  -  -  -  -  62,668,000
DividendsUSD$ -  -  -  -  -  -  -
Bonuses5
USD$ -  -  -  -  -  -  443,000
License Fees (Surface Rentals, etc.)6
USD$ 2,245,000  474,000  -  -  -  -  1,390,000
Infrastructure ImprovementUSD$ -  -  -  -  -  -  -
TotalUSD$ 121,021,000  252,584,000  -  -  -  1,441,000  65,109,000

FOOTNOTES
1.Government includes any national, regional, or local authority of a country, and includes a department, agency or entity that is a subsidiary of a government, including a national oil company.
2.Income taxes - Inclusive of tax refunds received. This is based on taxes assessed on income.
3.Royalties - Royalties are paid to the Government of Ghana and the Republic of Equatorial Guinea in-kind out of Kosmos Energy’s working interest share of production and as reported by the third-party operator. United States royalties are payments to the United States Office of Natural Resources Revenue (ONRR) based on actual production from offshore federal leases.
4.Royalties - The value of oil royalties for Equatorial Guinea and Ghana are estimated based on the annual average of daily Brent prices of $82.64 during 2023. The value of gas royalties for Ghana are based on the actual sales price realized. United States royalties are actual payments to the United States ONRR.
5.Bonuses - Payments made to the federal government when acquiring offshore leases.
6.License Fees - Payments made primarily to the federal government for annual rentals and applications for permits.

In addition to the above Payments to Governments, Kosmos Energy Ltd. has prepared the following supplemental information for the year ended 31 December 2023.

Payments to Governments (USD) - Supplemental Information
 Unit of Measure
Equatorial Guinea5
Ghana6
MauritaniaSão Tomé & PríncipeSenegalUnited KingdomUnited States
Production Entitlements1
bbls284,000------
Estimated Production Entitlements1
USD$23,470,000------
Envt, Capacity Building & Social Projects2
USD$5,000-8,000-287,000--
Training2
USD$332,000--95,000---
Taxes (Non-Income)3,4
USD$232,0009,755,000593,00045,000501,0001,902,0004,736,000

FOOTNOTES
1.Production entitlements are paid to the Republic of Equatorial Guinea in barrels of oil based on their participating interest. The production entitlement amounts presented represent Kosmos Energy’s participating share received by the Republic of Equatorial Guinea. The value of the production entitlements disclosed above are based on the annual average of daily Brent prices of $82.64 during 2023.
2.Represents payments made directly to government for satisfaction of obligations per the Petroleum Agreements and/or Petroleum Sharing Contracts (PSCs), as applicable. In addition to the numbers above, Kosmos made payments to national oil company employees in accordance with training obligations per the PSCs totaling $16,000 in Equatorial Guinea.
3.Inclusive of any tax refunds received.
4.Primarily withholding taxes on interest payments, employer paid payroll-related taxes, and property taxes paid on pipe and tangible goods inventory stored at various onshore locations in the United States. These values are exclusive of withholding or similar taxes remitted on behalf of service providers.
5.Figures presented exclude approximately $300,000 paid to Luba Freeport for shorebase services as well as $600,000 and $440,000 of insurance costs paid to Africa Reinsurance Corporation and Gepetrol Seguros S.A., respectively.
6.Figures presented exclude approximately $500,000 of insurance costs paid to Ghana Oil & Gas Insurance Pool.

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Payments to Governments (USD$) - Receiving Entity-Level Disclosures1
 
Production Entitlements (bbls)2
Estimated Production Entitlements (USD$)2
Income Taxes3
Royalties
(BOE)2
 Royalties
(USD$)2
DividendsBonusesLicense
Fees 		Infrastructure Improvement
Environment, Capacity Building & Social Projects4
Training4
Taxes
(Non-Income)5
TOTAL
Ministry of Mines and Hydrocarbons
284,00023,470,000-433,00035,783,000--2,233,000--28,000-61,514,000
Tresoreria General Del Estado
--82,993,000----12,000---149,00083,154,000
Instituto Nacional de Seguridad Social de Guinea Ecuatorial
-----------71,00071,000
Fondo de Formacion del Ministerio de Minas e
----------304,000-304,000
Excmo Ayuntamiento de Malabo
-----------12,00012,000
Tresor Public De Guinee Equatoriale Depots
-------------
Various
---------5,000--5,000
Total Equatorial Guinea6
284,000$23,470,000$82,993,000433,000$35,783,000--$2,245,000-$5,000$332,000$232,000$145,060,000
Government of Republic of Ghana
---717,00055,220,000-------55,220,000
Petroleum Commission of Ghana
-------472,000----472,000
Registrar General Department
-------------
Social Security & Nat'l Insura
-------------
Ghana Revenue Authority
--196,890,000--------9,696,000206,586,000
Electricity Company of Ghana
-----------55,00055,000
Various
-------2,000---4,0006,000
Total Ghana7
--$196,890,000717,000$55,220,000--$474,000---$9,755,000$262,339,000
Caisse Nationale D'Assuramce Maladie
-----------78,00078,000
Caisse Nationale De Securite Sociale
-----------5,0005,000
Tresorier General
-----------504,000504,000
Commissariat à la Sécurité Alimentaire
-------------
Various
---------8,000-6,00014,000
Total Mauritania
---------$8,000-$593,000$601,000
INSS - Instituto Nacional De Seguranca Social
-----------10,00010,000
Tesouro Publico
-----------28,00028,000
Agencia Nacional Do Petroleo ANPSTP
----------95,000-95,000
Various
-----------7,0007,000
Total Sao Tome & Principe
----------$95,000$45,000$140,000
Chef du Bureau de Recouvrement
-----------411,000411,000
Senegal Retirement
-----------11,00011,000
Senegal Social Security
-------------
Conseil National De Developpment De La Nutrition
-------------
Parc National des Oiseaux du Djoudj
---------285,000--285,000
Various
---------2,000-79,00081,000
Total Senegal
---------$287,000-$501,000$788,000
ONRR
---927,00062,668,000-443,0001,390,000----64,501,000
Internal Revenue Service
--(594,000)---------(594,000)
Various
--1,202,000--------4,736,0005,938,000
Total United States of America
--$608,000927,000$62,668,000-$443,000$1,390,000---$4,736,000$69,845,000
HMRC Cumbernauld
--1,441,000--------1,902,0003,343,000
Total United Kingdom
--$1,441,000--------$1,902,000$3,343,000
Total
284,000$23,470,000$281,932,0002,077,000$153,671,000-$443,000$4,109,000-$300,000$427,000$17,764,000$482,116,000



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FOOTNOTES
1.Kosmos Energy Ltd. has prepared the following report of payments made to governments for the year ended December 31, 2023 in accordance with the Reports on Payments to Governments Regulations 2014 (2014/3209) as amended by the Reports on Payments to Governments (Amendment) Regulations 2015 (2015/1928). The Payments to Government data are reflective of select payments made to government entities by Kosmos Energy Ltd.. These payments are categorized consistent with the Report on Payments to Governments Regulations 2014 (as amended in December 2015) (the Regulations). Kosmos Energy has also included supplementary disclosures of payments to governments in addition to those prescribed by the Regulations.
2.Production entitlements are paid to the Republic of Equatorial Guinea in barrels of oil based on their participating interest. The production entitlement amounts presented represent Kosmos Energy's participating share received by the Republic of Equatorial Guinea. Royalties are paid to the Government of Ghana and the Republic of Equatorial Guinea in-kind out of Kosmos Energy's working interest share of production and as reported by the third-party operator. The value of the international oil royalties and production entitlements disclosed above are based on the annual average of daily Brent prices of USD$82.64 during 2023. The value of gas royalties for Ghana are based on the actual sales price realized. United States royalties are actual payments to the United States Office of Natural Resources Revenue (ONRR) based on actual production from offshore federal leases.
3.Inclusive of tax refunds received. This is based on taxes assessed on income.
4.Represents payments made directly to government for satisfaction of obligations per the Petroleum Agreements and/or Petroleum Sharing Contracts (PSCs), as applicable. In addition to the numbers above, Kosmos made payments to national oil company employees in accordance with training obligations per the PSCs totaling USD$21,000 in Equatorial Guinea.
5.Primarily withholding taxes on interest payments, employer paid payroll-related taxes, and property taxes paid on pipe and tangible goods inventory stored at various onshore locations in the United States. These values are exclusive of withholding or similar taxes remitted on behalf of service providers.
6.Figures presented exclude approximately USD$300,000 paid to Luba Freeport for shorebase services as well as approximately USD$600,000 and USD$440,000 of insurance costs paid to Africa Reinsurance Corporation and GEPetrol Seguros, respectively.
7.Figures presented exclude approximately USD$500,000 of insurance costs paid to Ghana Oil & Gas Insurance Pool.






















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Payments to Governments (USD$) - Project-Level Disclosures1
 
Production Entitlements (bbls)2
Estimated Production Entitlements (USD$)2
Income Taxes3
Royalties
(BOE)2
 Royalties
(USD$)2
DividendsBonusesLicense Fees Infrastructure Improvement
Environment, Capacity Building & Social Projects4
Training4
Taxes (Non-Income)5
TOTAL
Ceiba Field
72,0005,950,000-128,00010,578,000-------$16,528,000
Okume Complex Field
212,00017,520,000-305,00025,205,000-------$42,725,000
Equatorial Guinea Block S
-------131,000--118,00058,000$307,000
Equatorial Guinea Block W
-------—--2,00058,000$60,000
Equatorial Guinea Block 21
-------125,000--103,00058,000$286,000
Equatorial Guinea Block 24
-------1,989,000--109,00058,000$2,156,000
Company Level - Kosmos Equatorial Guinea, Inc.
--82,992,000---------$82,992,000
Company Level - Kosmos Energy Equatorial Guinea
--1,000------5,000--$6,000
Total Equatorial Guinea6
284,000$23,470,000$82,993,000433,000$35,783,000--$2,245,000-$5,000$332,000$232,000$145,060,000
Jubilee
---628,00049,484,000-------$49,484,000
TEN
---89,0005,736,000-------$5,736,000
West Cape Three Points
-------237,000----$237,000
Deepwater Tano
-------237,000----$237,000
Company Level
--196,890,000--------9,755,000$206,645,000
Total Ghana7
--$196,890,000717,000$55,220,000--$474,000---$9,755,000$262,339,000
Company Level
---------8,000-593,000$601,000
Total Mauritania
---------$8,000-$593,000$601,000
Block 5
----------95,000-$95,000
Company Level
-----------45,000$45,000
Total Sao Tome and Principe
----------$95,000$45,000$140,000
Company Level
—————————287,000—501,000$788,000
Total Senegal
---------$287,000—$501,000$788,000
Mississippi Canyon
---574,00040,817,000--451,000----$41,268,000
De Soto Canyon
-------311,000----$311,000
Garden Banks
---10,000738,000--47,000----$785,000
Green Canyon
---343,00021,113,000--133,000----$21,246,000
Keathley Canyon
------443,000375,000----$818,000
Walker Ridge
-------63,000----$63,000
Company Level
--608,000----10,000---4,736,000$5,354,000
Total United States of America
--$608,000927,000$62,668,000-$443,000$1,390,000---$4,736,000$69,845,000
Company Level
--1,441,000--------1,902,000$3,343,000
Total United Kingdom
--$1,441,000--------$1,902,000$3,343,000
Total
284,000$23,470,000$281,932,0002,077,000$153,671,000-$443,000$4,109,000-$300,000$427,000$17,764,000$482,116,000





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FOOTNOTES
1.Kosmos Energy Ltd. has prepared the following report of payments made to governments for the year ended December 31, 2023 in accordance with the Reports on Payments to Governments Regulations 2014 (2014/3209) as amended by the Reports on Payments to Governments (Amendment) Regulations 2015 (2015/1928). The Payments to Government data are reflective of select payments made to government entities by Kosmos Energy Ltd.. These payments are categorized consistent with the Report on Payments to Governments Regulations 2014 (as amended in December 2015) (the Regulations). Kosmos Energy has also included supplementary disclosures of payments to governments in addition to those prescribed by the Regulations.
2.Production entitlements are paid to the Republic of Equatorial Guinea in barrels of oil based on their participating interest. The production entitlement amounts presented represent Kosmos Energy's participating share received by the Republic of Equatorial Guinea. Royalties are paid to the Government of Ghana and the Republic of Equatorial Guinea in-kind out of Kosmos Energy's working interest share of production and as reported by the third-party operator. The value of the international oil royalties and production entitlements disclosed above are based on the annual average of daily Brent prices of USD$82.64 during 2023. The value of gas royalties for Ghana are based on the actual sales price realized. United States royalties are actual payments to the United States Office of Natural Resources Revenue (ONRR) based on actual production from offshore federal leases.
3.Inclusive of tax refunds received. This is based on taxes assessed on income.
4.Represents payments made directly to government for satisfaction of obligations per the Petroleum Agreements and/or Petroleum Sharing Contracts (PSCs), as applicable. In addition to the numbers above, Kosmos made payments to national oil company employees in accordance with training obligations per the PSCs totaling USD$16,000 in Equatorial Guinea.
5.Primarily withholding taxes on interest payments, employer paid payroll-related taxes, and property taxes paid on pipe and tangible goods inventory stored at various onshore locations in the United States. These values are exclusive of withholding or similar taxes remitted on behalf of service providers.
6.Figures presented exclude approximately USD$300,000 paid to Luba Freeport for shorebase services as well as USD$600,000 and USD$440,000 of insurance costs paid to Africa Reinsurance Corporation and Gepetrol Seguros S.A., respectively.
7.Figures presented exclude approximately USD$500,000 of insurance costs paid to Ghana Oil & Gas Insurance Pool.