Gulf Oil and Gas accountACCOUNT

Sinopec Offered to Bid on Jubilee Stake

Source: Reuters 10/26/2009, Location: Africa

China's Sinopec has offered to make a joint bid with Ghana's national oil company for Kosmos Energy's stake in the huge Jubilee oilfield off the coast of the country citing a person familiar with the matter.

Sinopec's recent initial offer was rejected by state-run Ghana National Petroleum Corp (GNPC), the paper said, and the Ghanaian company is waiting to hear from all potential partners in the field before making a decision.

Exxon Mobil agreed to buy the Jubilee stake from Kosmos in early October, Reuters reported, according to three sources close to the matter. Kosmos is backed by private equity groups Blackstone Group and Warburg Pincus. But GNPC has said the sale is illegal. A GNPC source told Reuters earlier this month that that the firm is interested in buying Kosmos Energy's stake itself, perhaps selling all or part of that stake later.

Moreover, a leading member of Ghana's ruling party later confirmed that the government also does not approve of the Exxon deal.

The Journal also said that senior Exxon officials are traveling to Ghana on Monday to discuss the bid with government officials.

Sinopec, GNPC and Exxon declined to comment.
Kosmos owns the field with UK-based oil explorer Tullow Oil and Houston-based Anadarko Petroleum. It put its interest in the field on the market earlier this year.

Oil & Gas Companies News in Ghana >>

Congo >>  11/12/2019 - Anglo African Oil & Gas plc has entered into a rig option agreement (the Rig Agreement) with Societe de Forage Petroliers (SFP) for the provision of a...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Ghana Oil & Gas 1 >>  2 | 3 | 4 | 5 |

Oil & Gas Projects in Ghana >>

More News

Related Links

AO BJ BW CD CG CI CM DZ EG ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.