Kosmos Energy and its partners have discovered oil at the ultra-deepwater Tiberius exploration well in the US Gulf of Mexico

As the operator of the well, Kosmos owns a 33.34% working interest. Its partners, Occidental and Equinor, own 33.33% each.

Located in the Keathley Canyon Block 964, the Tiberius exploration well tested a four-way structural trap in the outboard Wilcox trend.

In the main Wilcox target, the well encountered roughly 75m of net oil pay, Kosmos said.

The Tiberius well was drilled to a vertical depth of roughly 7,800m and is situated in water that is around 2,300m deep.

Wireline logging is complete and casing is currently being run to the desired depth to use the well as an oil producer in the future, the company added.

Kosmos will conduct rock and fluid studies to verify the reservoir's production potential and will collaborate with partners on subsea development alternatives.

The oil discovery is around 10km south-east of the Lucius SPAR production facility, which is operated by Occidental.

Kosmos expects to tie back Tiberiuss to Lucius SPAR if it develops the new oil discovery.

Kosmos Energy chairman and CEO Andrew Inglis said: “Exploration success at Tiberius validates our proven basin infrastructure-led exploration strategy, which is focused on low-cost, short-cycle development opportunities.

“The Gulf of Mexico is an advantaged basin with top quartile carbon emissions, and discoveries like Tiberius can bring lower carbon US supply to meet near-term growing oil demand.”

In July 2023, Kosmos announced the start-up of the Jubilee South East (JSE) project off the coast of Ghana.

Its partners in the JSE project include Tullow Oil, Ghana National Petroleum Corporation and Petro.