29
May

Ghana: Occidental begins to market Ghana assets after Total sale falls through

Total reported that discussions to acquire the Ghanaian assets were terminated Total has informed Occidental that it is not interested in purchasing Anadarko’s interests in Ghana in the current circumstances. As the purchase and sale agreement expires in September, Total and Occidental have executed a waiver of the obligation to purchase and sell the Ghanaian assets, so that Occidental can begin marketing the sale of these assets to other third parties. The Ghanaian assets include the offshore Jubilee field (27% participating interest) and the TEN fields (19% participating interest). According to Occidental’s 2019 , the company classified its Ghana and Algeria assets as held for sale and listed the reserves of both countries as 125 MMboe (96% oil, 87% developed).

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