The hardworking minister of Energy, Dr. Matthew Opoku Prempeh has received positive accolades from players in the Oil and Gas sector for the instrumental role he played in kosmos Energy's acquisition of accidental/anadarko Ghana assets.
On 13th October 2021, Kosmos Energy announced through its Dallas head office in Texas, USA that it had acquired an additional 18.0% interest in the Jubilee field and an additional 11.0% interest in the TEN fields in Ghana from Occidental Petroleum (“OXY”) for a purchase price of $550 million with an effective date of April 1, 2021.
This comes as good news for the upstream sector as Ghana needed an investment booster from a major player like kosmos. This will also ensure
greater investment from the partnership and increased revenue for Ghana.
Kosmos Energy, in announcing this landmark achievement, showered praises on the Manhyia South legislator. This was contained in a letter dated 13th October 2021. Therein, the Kosmos CEO, Mr. Andrew G. Inglis, stated that; “Without your involvement and strategic direction I am convinced that we would not have been able to reach such a good result for Ghana, for GNPC and for the partnership.”
The deal, that has been long overdue came to fruition, apparently due to the dynamic leadership of the man popularly know as 'NAPO'. In acknowledging this role, Mr. Inglis remarked; "it is a mark of your tenure as Energy Minister so far that it was only on your arrival that negotiations were able to accelerate and reach a successful conclusion"
This comes at a time that investment in the Oil and Gas industry is proving to be harder to find. It is hoped that, this new partnership will bring the needed boost in the expected increase in the Ghana's revenue.
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