Exxon Said to Return to Favored Pick in Ghana Partner Search
- Talks with gas station operator stalled after opposition
- Proposal for deal with former AngloGold head also rebuffed
Exxon Mobil Corp. resumed talks with Ghana Oil Co. as the oil supermajor nears a deadline to find a local partner for the exploration of crude at an offshore field, according to people familiar with the matter.
Talks between Exxon and the Accra-based gas station operator, known as Goil, for a 5 percent stake in the Deepwater Cape Three Points block stalled earlier this year after the government opposed a tie-up, said the people, who asked not to be identified because they’re not authorized to speak about the matter. The West African nation holds a 34 percent stake in Goil and some government stakeholders argued that a deal between the company and Exxon would give the private sector in Ghana little opportunity to benefit from the exploration activities, said the people.