Tullow, PetroSA looking to pre-empt offshore Ghana fields sale
Nov. 12, 2021
Tullow Oil and PetroSA have notified Kosmos Energy of their intention to exercise their pre-emption rights in connection to a planned transaction offshore Ghana.
(Courtesy MODEC)
The FPSO Kwame Nkrumah operates at the Jubilee field offshore Ghana.
Offshore staff
DALLAS – Tullow Oil and PetroSA have notified Kosmos Energy of their intention to exercise their pre-emption rights in connection to a planned transaction offshore Ghana.
Occidental Petroleum had agreed to sell its interests in the producing Jubilee and TEN fields to Kosmos.
Exercising of the pre-emption rights is subject to finalizing of agreements with Kosmos/Anadarko WCTP Co. and requires approval from state oil company GNPC and Ghana’s Ministry of Energy.
If completed, Kosmos’ interest in Jubilee would fall by 3.8% to 38.3% and its stake in TEN would reduce by 8.3% to 19.8%, with a consideration due to the company of around $150 million.
