The Ghana National Petroleum Corporation (GNPC) says it has not received any official communication from KOSMOS ENERGY over its reported plans to suspend the sale of its 30 percent stake in the Jubilee field.      
       
This comes in the wake of reports that KOSMOS ENERGY has withheld the sale to venture into drilling of oil after several years of solely exploring the commodity.

According to the Business Guide newspaper, the decision has been deemed expedient especially after the company’s agreement ended in January this year without a substantive buyer.

KOSMOS Energy had reportedly agreed to sell the stake to EXONN MOBIL for some 4 billion dollars which the GNPC asserted its “absolute” approval rights raising legal issues with the deal.   
              
Recently there were also reports that plans were far advanced for GNPC to reach a final confidentiality agreement with KOSMOS ENERGY.

The latest reports however say KOSMOS has abandoned plans to sell its stake and is streamlining its arrangements with TULLOW OIL for a successful drilling operation.

The Managing Director of the GNPC, Nana Boakye Asafo Adjaye told Citi Business they are oblivious of this latest development and are thus still pursuing plans to buy the stakes.