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Kosmos Ends $4 Billion Sale of Ghana Fields to Exxon

Kosmos Energy LLC, the U.S.-based oil explorer focusing on West Africa, ended its plans for a $4 billion sale of fields in Ghana to Exxon Mobil Corp. after government opposition to the deal.

The company will focus on further exploration of Ghana’s deposits and together with partners plans to start pumping oil from the offshore Jubilee field in the fourth quarter, Dallas- based Kosmos said today in a statement. The field, operated by Tullow Oil Plc, will reach 120,000 barrels a day of production next year.