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    1. Regional Reports
    2. Africa

    Tullow, PetroSA looking to pre-empt offshore Ghana fields sale

    Nov. 12, 2021
    Tullow Oil and PetroSA have notified Kosmos Energy of their intention to exercise their pre-emption rights in connection to a planned transaction offshore Ghana.
    (Courtesy MODEC)
    The FPSO Kwame Nkrumah operates at the Jubilee field offshore Ghana.
    The FPSO Kwame Nkrumah operates at the Jubilee field offshore Ghana.

    Offshore staff

    DALLAS – Tullow Oil and PetroSA have notified Kosmos Energy of their intention to exercise their pre-emption rights in connection to a planned transaction offshore Ghana.

    Occidental Petroleum had agreed to sell its interests in the producing Jubilee and TEN fields to Kosmos.

    Exercising of the pre-emption rights is subject to finalizing of agreements with Kosmos/Anadarko WCTP Co. and requires approval from state oil company GNPC and Ghana’s Ministry of Energy.

    If completed, Kosmos’ interest in Jubilee would fall by 3.8% to 38.3% and its stake in TEN would reduce by 8.3% to 19.8%, with a consideration due to the company of around $150 million.

    11/12/2021