Ghana Govt, Kosmos Move Closer To Deal

The desire and interest of the Government of Ghana to acquire shares being offloaded by KOSMOS energy in the Jubilee Oil Fields in the Western Region, received a boost yesterday when the President, Professor John Evans Atta Mills interacted with a high-powered delegation from the oil exploration and drilling company at the Castle, Osu in Accra.

The discussions also examined the role of KOSMOS in the emerging oil and gas industry in Ghana and what the oil concern could do to support the government’s drive to develop the full potential of the oil fields.

It would be recalled that KOSMOS recently announced that it was offloading its shares in the Jubilee Oil Field , bringing to an end months of speculations which took centre-stage especially in the Ghanaian Media.

The meeting with President Atta Mills was the first official meeting of the oil concern weeks after its decision to formally offload its shares in the jubilee oil Fields.

Before the pronouncement, the GNPC, which is Ghanaian owned, had come out to express its interest in procuring the shares of KOSMOS if it finally decided to offload them.

When President Mills who had just arrived from his 10-day holiday to the United States of America, was asked to comment on the announcement of KOSMOS to offload its shares, he described the move as welcome news since it would afford the nation the opportunity to acquire the shares through its statutory bodies.

The sales and purchase agreement of the shares according to a source, entails lots of legalities and security concerns which should be dealt with by experts who will be constituted by the two teams with the passage of time.

Now that the two teams have met formally it would paved the way for the constituting of teams to work out the details of the offloading of the shares of KOSMOSD”, it said.

In his opening remarks before the discussions, President Mills thanked KOSMOS for its pioneering role in the country’s oil and gas industry, adding that the government was well pleased with its performance.

He said the government recognized public-private partnership, since that alone would guarantee a sustained and smooth development of the country, as well as impact positively on the living standards of the people.

President Mills said investors are welcomed to invest in the various sectors of the economy provided they also agree to work within the confines of the country’s laws.

For his part, the President and co-founder of KOSMOS Energy, Mr Brian Maxed, thanked President Mills for the warm reception accorded his team, adding that KOSMOS was ever committed to the development of Ghana’s oil industry.

Mr. Maxed said KOSMOS would be pleased if the government of Ghana continues to support its offshore operations in the country for their mutual benefit.

Present at the meeting included the Minister of Energy, Dr. Joe Oteng-Agyei ; the Chairman of the Ghana National Petroleum Corporation(GNPC), Mr. Ato Ahwoi; Dr. Cadman Mills, a member of Economic Management Team; Dr. Christine Amoako-Nuamah, a presidential aide and Lt. Colone Gbevlo Lertey, National Security Co-ordinator.

Source: Daily Graphic

Leave a Reply