Kosmos Energy and its partners have made an oil discovery in the US Gulf of Mexico through the drilling of the Tiberius exploration well in Keathley Canyon Block 964.

According to Kosmos Energy, the well intersected nearly 75m of net oil pay in the main Wilcox target.

Located in roughly 2,300m of water, the Tiberius well was drilled to a total vertical depth of around 7,800m. The exploration well tested a four-way structural trap in the outboard Wilcox trend.

Kosmos Energy plans to carry out rock and fluid analysis for confirming the production potential of the reservoir. The company said that it will work with partners on the options for the subsea development of the new oil discovery.

The Tiberius discovery is located about 10km of the SPAR production facility in the southeast direction. The facility is operated by Occidental, which has a 33.33% stake in the well.

Kosmos Energy expects Lucius SPAR to facilitate a short tie-back in the case of taking up the development of the new oil discovery.

The company has an operating stake of 33.34% in the well. The third partner is Norway-based Equinor with a stake of 33.33%.

The pre-drill gross resource estimate of Tiberius was around 135 million barrels of oil. Its drilling began in early Q3 2023.

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 U.S. supply to meet near-term growing oil demand.”

In July 2023, Kosmos Energy and its partners Tullow Oil, Ghana National Petroleum, and Petro started production from the Jubilee South East project located offshore Ghana.