Oil and gas company Kosmos Energy Ltd. said on May 6 it has started a formal process to sell down its interest in the Mauritania-Senegal basin to around 10% and expects bids by the end of the summer.
The company said in February it had discovered a "significant and valuable resource" in Mauritania and Senegal.
The company said oil and gas revenue more than doubled for the three months ended March 31, to $296.8 million on higher production in Ghana.
On an adjusted basis, the company lost 6 cents per share, smaller than analysts' estimates of a loss of 7 cents per share, according to IBES data from Refinitiv.
Quarterly production rose to 5.1 million barrels of oil equivalent, compared to 3.8 million barrels of oil equivalent a year earlier.
Egypt expects investments of at least $750 million to $800 million in the first stage of exploration in the 12 concessions, Petroleum Minister Tarek El Molla said during a press conference.
Country plans to award up to $1.8 billion in contracts by September.
Origin Energy said in a statement that it would remain responsible for the development of Ironbark, which is an onshore coal seam gas development in Australia.