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Kosmos Energy CEO Commends NAPO over new OXY/Anadarko deal

The Chairman and Chief Executive Officer (CEO) of Kosmos Energy, Mr. Andrew G. Inglis, has lauded the Minister for Energy, Dr. Matthew Opoku Prempeh (NAPO), for his commitment to ensuring that Ghana gets a greater stake in the development of the country’s resources.

This comes after Kosmos Energy acquired an additional 18.0% interest in the Jubilee field and an additional 11.0% interest in the TEN fields in Ghana from Occidental Petroleum (“OXY”) for a purchase price of $550 million.

The deal takes effect from April 1, 2021.

Consideration due to OXY at completion was approximately $460 million after taking into account closing adjustments.

“Without your involvement and strategic direction I am convinced that we would not have been able to reach such a good result for Ghana, for GNPC and for the partnership,” said Mr Inglis in a statement sighted by Kessbenonline.com.

The Kosmos Energy CEO further looks  forward to discussing “further steps for the partnership in respect of effective development of the Jubilee and TEN fields for many years to come.”

Kosmos Energy announced through its Dallas head office in Texas, USA, on 13th October, 2021

that it had acquired an additional 18.0% interest in the Jubilee field and an additional 11.0% interest in the TEN fields in Ghana from Occidental Petroleum (“OXY”) for a purchase price of $550 million with an effective date of April 1, 2021. Consideration due to OXY at completion was approximately $460 million after taking into account closing adjustments.

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