Portugal’s Galp Energia has agreed to by a 20% non-operated stake in three blocks in the Gulf of Guinea from Dallas-based Kosmos Energy.
Kosmos would retain operatorship of blocks 5, 11, and 12 offshore Sao Tome and Principe.
As per the agreement, Galp would pay a share of Kosmos’ costs relating to a 3D seismic survey planned for the first quarter of 2017.
The transaction is expected to close before the end of the year, subject to government approval.