Shell Seen Eying Kosmos' Ghana Oil Field Stakes


Jubilee Field
(Click to Enlarge)

LONDON (Dow Jones Newswires), Jun. 18, 2009

Royal Dutch Shell is looking at stakes put up for sale by Kosmos Energy LLC in a large Ghanaian oil field, the latest major showing interest in West Africa's new oil producing nation, people familiar with the matter said this week.

"They are looking at the data" on Kosmos' stakes in the Jubilee field, but it's unclear if they will bid, one person said. A Shell spokesman declined to comment and Kosmos didn't respond to a request for comment.

The sale could herald the majors' entry into Ghana, which is set to become an oil producer next year.

However, other people familiar with the matter have previously said the deal, with a asking price of $3 billion, can't close before a development plan is agreed between the companies involved and Ghana's government.

Apart from Kosmos, Tullow Oil PLC and Anadarko Petroleum Corp. are investors in the Jubilee field, which contains recoverable reserves of at least 1.2 billion barrels of oil equivalent.

Chevron Corp., ExxonMobil Corp., Italy's Eni SpA, India's Oil & Natural Gas Corp., and Cnooc Ltd. have also expressed interest in the Ghanaian assets, the people familiar with the matter have previously said.  

Copyright (c) 2009 Dow Jones & Company, Inc.

Related Companies
 Company: Exxon Mobil Corporationmore info


 - Exxon Pulls Out Of 3 Exploration Blocks In Kurdistan (Dec 6)
 - Minister Plays Down Landowner Threats To PNG LNG Operations (Dec 6)
 - Mexico Oil Auction Succeeds in Drawing World’s Biggest Drillers (Dec 6)
 Company: Shellmore info


 - Southern North Sea Special Interest Group Launched (Nov 21)
 - Report: Growing Confidence in North Sea Oil, Gas Industry (Nov 14)
 - Kazakhstan's Kashagan Produces 201,000 Tons Of Oil In October (Nov 14)
 Company: Anadarko Petroleummore info
 - More Company Climate Votes Ahead, As Trump May Loosen Energy Rules (Nov 25)
 - US Shale Firms Go Back To Work Buoyed By OPEC Deal, Trump Victory (Nov 14)
 - Anadarko to Focus on Three Ds in E&P Investment (Nov 2)
 Company: Chevron Corporationmore info
 - Mexico Oil Auction Succeeds in Drawing World’s Biggest Drillers (Dec 6)
 - Chevron to Submit Sarta Block Development Plan Soon (Dec 5)
 - Sources: Saudi, Kuwait Expect to Restart Neutral Zone Oilfields Soon (Dec 4)
 Company: ONGCmore info


 - What Will it Take for Operators to Invest in India? (Nov 1)
 - Undaunted by Gas Price Cut, ONGC Firm on $4.5 Billion CAPEX (Oct 6)
 - India ONGC To Invest $5.1B In 4 Years In East Coast Oil Gas Asset (Sep 30)
 Company: ENImore info


 - Eni: Oil Worker Dies Following Congo Platform Fire (Dec 2)
 - Eni Aims to Cut Stake in Zohr Field to 50 pct, Could Happen Quickly (Nov 28)
 - Eni Agrees To Sell 10% Stake In Egypt Concession To BP (Nov 25)
 Company: Tullow Oilmore info


 - Centrica: Oda Field to see $634M Investment, Will Create 5,500 Jobs (Nov 30)
 - UK Says East Africa Holds Huge Opportunities, Govt Well Placed to Help (Nov 17)
 - Africa Oil, Partners To Begin Drilling New Kenya Wells In Dec (Nov 15)
 Company: CNOOCmore info
 - Mexico Oil Auction Succeeds in Drawing World’s Biggest Drillers (Dec 6)
 - First Oil Flows from CNOOC's Enping 18-1 Field in Pearl River Mouth Basin (Sep 22)
 - CNOOC Commences Oil Production at Weizhou 6-9/6-10 Project in Beibu Gulf (Sep 13)
 Company: Kosmos Energymore info
 - Tullow Starts TEN Production Offshore Ghana (Aug 18)
 - Oil, Gas Companies Tighten Cash Flow at Expense of Future Growth (Jul 26)
 - Kosmos Hits Gas at Ahmeyim-2, Increases Tortue Resources Estimates (Mar 16)
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Regional Sales Manager
Expertise: Business Development|Sales
Location: Houston
 
Operations Manager
Expertise: Operations Management|Process Management|Regulatory Compliance
Location: Kermit, TX
 
Associate Product Manager / Product Manager Job
Expertise: Business Development|Marketing|Sales
Location: Minneapolis, MN
 
search for more jobs

Brent Crude Oil : $54.94/BBL 0.88%
Light Crude Oil : $51.79/BBL 0.21%
Natural Gas : $3.65/MMBtu 6.10%
Updated in last 24 hours