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Vol 3 (AAC) No 11

Published 1st September 2010


Ghana

Lining up for Jubilee

Asia's big oil companies, backed by their governments, are outbidding their Western rivals

President John Evans Atta Mills, his government and the Ghana National Petroleum Corporation are entertaining offers for cooperation and a stake in the Jubilee oil field from all over Asia. Since ExxonMobil's US$4 billon offer for Kosmos Energy's 23.5% stake in the Jubilee field was rejected last month (AC Vol 51 No 17), Asian national oil companies have been doing the rounds in Accra, all aiming to become GNPC's financier and operating partner. Kosmos, however, is contemplating a listing of its shares as an alternate way to go ahead with the project.

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