MercoPress. South Atlantic News Agency

Navitas broadens its US Gulf portfolio with stakes in two oil discoveries, oil industry media

Navitas Petroleum in well known in the South Atlantic where it has the Sea Lion project, a deep-water development in the north Falkland Basin

Navitas Petroleum has signed agreements to obtain a 33.33% interest in the Tiberius and Logan oil discoveries in the Gulf of America (Gulf of Mexico) from Occidental and Kosmos Energy, expanding its Gulf of America hydrocarbon portfolio.

Navitas Petroleum in well known in the South Atlantic where it has the Sea Lion project, a deep-water development in the north Falkland Basin, of which she is operator (65% stake) alongside Rockhopper Exploration, 35%. Once an FPSO vessel (Aoka Maru) is ready and located, the project targets first oil in March 2028

OffshoreEnergy, is reporting the company claims that this acquisition is aligned with its strategy of investing in discovered oil and gas resources with proven reserves and/or contingent resources that have the potential for relatively short development timelines.

Andrew G. Inglis, Kosmos’ Chairman and Chief Executive Officer, said: “In the Gulf of America, we completed a highly competitive farm-down process for Tiberius, bringing in a new partner aligned with our strategy to grow value from the asset.”

Tiberius in the Keathley Canyon Block 964, made in 2023, and Logan in the Walker Ridge Block 969, discovered in 2011, are expected to be developed through the Oxy-operated Lucius spar-type floating production platform.

“By utilizing existing infrastructure, development can be streamlined, capital efficiency improved, and the path to first production potentially shortened,” emphasized Navitas.

Kosmos’ Tiberius, which encountered 75 meters of net oil pay in the primary Wilcox reservoir, secured the green light to move forward with a subsea tie-back development a few months ago, thanks to a final investment decision (FID) disclosed in March 2026.

The transaction marks Navitas’ first collaboration with Occidental and Kosmos Energy, further expanding its network of strategic relationships in the Gulf of America.