Kosmos Energy Denies Allegations It Broke Contract Terms to Explore Oil
Kosmos Energy LLC denied allegations by the state-owned oil company that it had broken the terms of its contract to explore for oil off Ghana’s coast.
The claims that it had supplied information on its exploration activities to potential buyers, contravening an accord with state-owned Ghana National Petroleum Corp., were “totally unsubstantiated,” it said in a statement released in the capital, Accra, today.
Kosmos operates the West Cape Three Points block with a 30.9 percent stake and has an 18 percent stake in the adjacent Deepwater Tano block, both of which are in the Jubilee field. The company wants to sell the stakes to ExxonMobil Corp. in a move opposed by GNPC, which says Kosmos should have sought their consent before putting the assets up for sale.
Kosmos made GNPC data available to more than 20 potential bidders, including ExxonMobil, without complying with appropriate safeguards, the state oil company has said.
For Related News and Information: On Ghana’s Economy: TNI GHANA ECO <GO> Top Regional Stories: AFTO <GO>
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