The Gryphon Alpha FPSO, the UK North Sea's first purpose-built floating production, storage and offloading vessel, is being redeployed to the Cosmos field offshore Tunisia after its decommissioning by TotalEnergies. The vessel will be refurbished and is expected to mobilise to the shallow-water field in the second quarter of next year.

Field Development and Production Plans

The Cosmos field, discovered over 40 years ago, holds proven reserves of 10-11 million barrels of oil and 20 billion cubic feet of gas. A development plan was approved in August, with production wells slated for drilling next year and first output targeted by the end of September 2026. Forecast crude production is an average of 15,000 barrels per day.

Commercial and Operational Agreements

Crude will be processed and stored on the FPSO and lifted monthly under an offtake contract with trader Trafigura. Tende Energy, in partnership with Tunisian state company ETAP, plans to lease the FPSO from its new owner, Djerba Offshore. The FPSO is intended to become a production hub in the Gulf of Hammamet.

Historical Context and Recent Acquisition

The Cosmos discovery has had multiple previous owners, with development plans scuppered by oil price crashes and political upheaval. Africa-focused independent Tende Energy acquired former operator Anglo Tunisian Oil and Gas (ATOG) in 2023 to build a Tunisian portfolio centred on Cosmos. Tunisia's crude production has halved since 2000.

Gas Infrastructure Agreement

Following an asset swap with Eni, Tende Energy will gain access to existing gas processing and pipeline infrastructure at the nearby Maamoura field. This will allow gas from Cosmos to be sent onshore. The swap involves Tende transferring interests in several other fields in exchange for Eni's operated interests in the Baraka and Maamoura fields.