Related Articles
Occidental CEO Vicki Hollub
Forward article link
Share PDF with colleagues

Occidental exits Ghana

The US super-indie is divesting its assets in the country

US super-indie Occidental Petroleum is selling up in Ghana. The firm has sold stakes in two fields—Jubilee and TEN—to New York-listed Kosmos Energy and state-owned Ghana National Petroleum Corporation (GNPC). Kosmos will pay $550mn to increase its holdings in Jubilee and TEN by 18 percentage points, to 42.1pc, and 11 percentage points, to 28.1pc, respectively. GNPC’s $200mn payment to Occidental will increase  its stakes in Jubilee and TEN by 6 percentage points each, to 20pc and 21pc respectively. Occidental’s combined Ghanaian production share averaged 22,000bl/d oe in the second quarter of this year. The Kosmos sale has been concluded and the GNPC deal is expected to close this quarte

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Jera plans winter LNG stock build
26 November 2021
The Japanese LNG buyer is looking to avoid a repeat of last year’s supply crunch
Basra-Aqaba pipeline talks hint at conclusion
26 November 2021
Nearly 30 years since the original agreement, Iraq’s route to the Red Sea may be in sight
Delta goes private with Vietnamese LNG project
25 November 2021
The firm’s LNG-to-power development will be the first in Vietnam to be fully privately owned
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video