Managing Editor of the Insight newspaper and outspoken critic of the United States, Kwesi Pratt Jnr, believes the government of the day is treating KOSMOS Energy LLC, a US Oil Company with kid’s gloves and strongly advocates the sending of a clear signal to the outside community that “Ghana is committed to supporting its national interest.”

Earlier this week, the Ghana National Petroleum Corporation (GNPC) rejected a request by privately-held Kosmos Energy to sell its stake in the Jubilee oilfield to ExxonMobil. GNPC indicated they would encourage Kosmos to sell directly to them for a fair market price.

Kosmos, backed by private equity firms Warburg Pincus WP.UL and Blackstone Group LP (BX.N), agreed last year to sell its interests in the field to ExxonMobil for $4 billion.

But GNPC insists this is a serious breach that can influence the negotiation posture of Exxon Mobil and which puts Ghana at a disadvantage.

Part of a confidential petroleum agreement entered into by all partners in Jubilee, provides that any company seeking to enter into any deal with an interested third party must give “prior notice” to GNPC and the government of Ghana. Ghana argues Kosmos did not give such notice.

Speaking on Radio Gold’s political discussion programme “Alhaji and Alhaji”, the social commentator accused KOSMOS of cutting Ghana’s state-run oil company (GNPC) out of discussions and “informing over 20 potential buyers about the field without government’s permission.” Mr. Pratt reckons KOSMOS is acting in the strategic interest of the United States of America, hence their intransigence in not accepting GNPC’s offer.
“…Ghana is being too kind and too nice to KOSMOS, who in turn is taking it for granted…it is time to send a clear signal to the world that Ghana is committed to supporting its national interest,” he stated.

KOSMOS’ interests amount to a 30.875 percent interest in The West Cape Three Points Block and an 18% stake in Deepwater Tano Block in the Gulf of Guinea. First oil is due in the last quarter of 2010 with initial output put at 120,000 barrels per day.

Source: Rebecca Quaye/Peacefmonline.com/Ghana