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BP mulls bid for Kosmos field stake
BP is mulling a bid for Kosmos Energy’s stake in an oil field off the Ghanaian coast, a move that would put it in direct competition with rival Exxon Mobil, analysts said yesterday.
Exxon has already entered an exclusivity agreement to buy Kosmos’ 23.49 per cent stake in the Jubilee field for at least $4bn (£2.4bn), but BP is understood to have appointed Goldman Sachs to advise it on how it might gatecrash the deal.
BP is also said to have approached Ghana National Petroleum regarding a joint offer for the stake, but nothing has yet been agreed regarding a joint approach.
Tullow Oil, which owns a 34.7 per cent stake in the field saw its shares rise by 11p to 1,264p after news broke that BP was eyeing the stake.