Kosmos Energy (KOS): GTA Phase 1 ramp-up

This situation live

£1,191m · 205.5p · +70% since the first step

5 May 2026 · Above nameplate; Phase 1+ in focus · −27% until the next step Heads of terms for domestic gas sales are expected in 2026.

3 Aug 2026 · J76 and J77 online; J50 imminent · +7% since Heads of terms for domestic gas sales are targeted in 2026.

Project milestones

GTA Phase 1 ramp-up

J76 and J77 online; J50 imminent

Next: J50 online in coming days; water injector end of Q3

Every step · 7

3 Nov 2025 Ramping up; nameplate targeted end Q4 2025 – With Phase 1 targeting nameplate production at the end of the fourth quarter, the partnership is now focusing on future expansion through Phase 1+, a... ↗
5 Jan 2026 Nameplate reached in December 2025 – ramp-up of the GTA liquefied natural gas (LNG) project continued with the floating LNG vessel operating at nameplate capacity (2.7 million tonnes per annum... ↗
20 Feb 2026 Producing above nameplate, ~2.9 mtpa – The field has averaged production of ~2.9 million tonnes per annum (mtpa) equivalent (vs. 2.7 mtpa nameplate capacity) year-to-date, highlighting the... ↗
2 Mar 2026 Above nameplate; focus shifts to Phase 1+ – Year-to-date production has been strong, at ~2.9 mtpa equivalent with 6.5 gross LNG cargos and one gross condensate cargo lifted so far. ↗
5 May 2026 Above nameplate; Phase 1+ in focus – Heads of terms for domestic gas sales are expected in 2026. ↗
6 Jul 2026 FID taken; farm-down progressing – In the Gulf of America, post the sanction of Tiberius in March, the farm down continues to make good progress, with completion expected in the third quarter. ↗
3 Aug 2026 J76 and J77 online; J50 imminent – Heads of terms for domestic gas sales are targeted in 2026. ↗

What is happening

Kosmos Energy: GTA Phase 1 ramp-up – J76 and J77 online; J50 imminent. ['J76 and J77 online; J50 imminent']

In short: The 2025/26 Jubilee campaign brought J74 and J75 online in H1 2026. J76 came online in mid-June and J77 in early July, both performing at the high end of expectations. On 3 Aug 2026 Kosmos said J50 is due online in the coming days, lifting gross output to >90,000 bopd. A water injector ends the campaign at end Q3.
Announced: 3 Nov 2025 · Ramping up; nameplate targeted end Q4 2025
Latest: 3 Aug 2026 · Phase 1 at full rate; Phase 1+ in focus
Next campaign: Up to ten wells from mid-2027; rig being secured
J76: Online mid-June 2026, two weeks later than planned; ~20,000 bopd gross
Q2 output: Jubilee ~72,000 bopd gross in Q2 2026
J77: Completed; production expected imminently; takes Jubilee to ~90,000 bopd gross
J50: Completion of previously drilled well; online in coming days
Lifting: Two Jubilee cargos and one TEN lifting in Q2; third Jubilee cargo completed 2 July
J76 and J77: J76 mid-June, J77 early July; initial performance at high end of expectations
Target: Jubilee gross production >90,000 bopd

J50 online in coming days; water injector end of Q3.

Briefing Pro

What it does, how it got here, what management promised and delivered – written from its own announcements.

From the company's own announcements. Not investment advice.

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