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GNPC readies bid for Kosmos Jubilee stake -source

Wed Nov 4, 2009 7:19pm IST
 
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* GNPC may bid for stake after data dispute resolved-source

* Move could overthrow reported Exxon deal

* GNPC has enough money to buy the prospect-source

By Kwasi Kpodo

ACCRA, Nov 4 (Reuters) -- State-run Ghana National Petroleum Corporation (GNPC) could bid for Kosmos Energy's stake in the giant offshore Jubilee field after it clears up a dispute over shared technical data, a source at the company said on Wednesday.

GNPC's interest in the prospect, part of one of the biggest oil finds in Africa, could flummox Exxon Mobil's (XOM.N: Quote, Profile, Research) reported deal to purchase it for $4 billion.

"We have not presented any proposal to Kosmos yet -- we'd only do so when we conclude our ongoing talks aimed at resolving the data right violation by Kosmos," the GNPC source said.

GNPC declined official comment.  Continued...

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