(World Oil) – Kosmos Energy has completed the sale of its interests in the Ceiba Field and Okume Complex production assets in Block G offshore Equatorial Guinea to Panoro Energy, advancing the company’s strategy to streamline its portfolio and strengthen its balance sheet.The final cash consideration totaled approximately $127 million following closing adjustments, with additional contingent payments of up to $40 million tied to future oil price and production performance.Kosmos said proceeds from the transaction will be used to repay borrowings under its reserves-based lending credit facility.“We are pleased to have closed this transaction, a win-win for Kosmos and Panoro,” said Andrew Inglis, chairman and chief executive officer of Kosmos Energy. “The transaction high grades our portfolio by divesting high unit operating cost production and increases balance sheet resilience, with retained exposure to future upside from the assets.”The divestment allows Kosmos to focus capital investment on what the company described as its core, higher-value assets while reducing exposure to mature production with higher operating costs.According to Kosmos, production from the assets averaged approximately 5,800 bopd net to the company during the first half of 2026 through completion of the transaction on June 16.The sale will also remove an asset retirement obligation liability of approximately $140 million from Kosmos’ balance sheet.Inglis thanked the Central African Economic and Monetary Community (CEMAC) and the Government of Equatorial Guinea for supporting the transaction through the approval process.Kosmos said it will provide updated full-year 2026 guidance when it reports second-quarter results in August.