Subscribe  Log in | Register | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Licensing rounds
Search
Related Articles
Tullow continues search for Kenyan project partner
The Anglo-Irish independent is looking for more buy-in to progress its Lokichar/Turkana development
Ghana’s downstream goals remain distant
The country is seeking investors to fund the rehabilitation of its only oil refinery, while confusion continues about plans for a new plant
Tullow to resume Gabon expansion
The debt-burdened firm’s fortunes appear to be turning
Tullow sees progress in Kenya
The company might not have given up on its Kenyan ambitions
US oil sector champions methane controls
Biden administration hopes to fast-track emission restrictions, a popular measure among many large-cap operators
Double trouble for West African upstream
Corporate carbon goals and local regulatory regimes will determine whether the region’s deepwater sector can attract renewed interest from investors
Ghana prepares for LNG imports
Robert Besseling, CEO of specialist intelligence company Pangea-Risk, explains why Ghana is about to start importing LNG despite having oil and gas reserves of its own
Gulf of Guinea piracy worsens
Maritime regulators and the shipping industry issue warnings over escalating frequency, severity and range of pirate attacks
Drilling ban spooks Gulf of Mexico
A long-term federal waters embargo would trigger severe production losses in the region, forcing firms to withdraw capital
Kosmos sheds frontier portfolio
Explorer divests non-core assets to cut costs and focus attention on proven basins
Occidental CEO Vicki Hollub
Ghana Occidental
Simon Ferrie
15 October 2021
Follow @PetroleumEcon
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 quarter.

Welcome to the PE Media Network

PE Media Network publishes Petroleum Economist, Hydrogen Economist and Transition Economist to form the only genuinely comprehensive intelligence service covering the global energy industry

 

Already registered?
Click here to log in
Subscribe now
to get full access
Register now
for a free trial
Any questions?
Contact us

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Asia continues long-term LNG supply quest
24 May 2022
South Korean utility is the latest to sign up for contractual volumes as the continent’s purchasers appear to put a greater premium on supply security than Europeans
Asian LNG demand sees ‘retracement’ not ‘destruction’
24 May 2022
The impact of high prices should be only a temporary phenomenon
UK onshore shows further signs of life
24 May 2022
Producers continue to be upbeat on a previously neglected sector, despite unconsummated M&A
African institutions plan energy project bank
23 May 2022
Continent’s leaders attempt to insulate oil and gas projects from changing investment landscape

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
  • Twitter
Tweets by Petroleum Economist
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2022 The Petroleum Economist Ltd
Cookie Settings
;

Search