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Kosmos committed to developing local expertise

  • SOURCE: | qwesa2big
  • Jubilee oil partner Kosmos Energy says it is committed to helping develop the expertise of local businesses in the country to support its operations.

    In an interview with B&FT, the Country Manager of Kosmos Energy Mike Murphy said: “It is better for us to give opportunities for locals who understand our operations rather than look for workers outside the country.

    “We want to be an active member of the community by building partnerships with locals to grow their businesses,” said Murphy.

    Touching on its intention to list on the Ghana Stock Exchange (GSE), Murphy said the decision to list is a demonstration of the company’s commitment to stay in Ghana as a development partner in the Jubilee Field, thus the offer to Ghanaians to own a stake in it.

    The Texas-based Kosmos announced in July 2011 its intention to list on the GSE before the end of this year to raise about US$50million and thus enable it fund development of its oil operations in the country.

    Murphy said the details of the listing are being worked out. He added: “We are still undertaking exploration work in other parts of the field and we intend investing a lot more to develop these projects.”

    He disclosed that Kosmos has so far invested about US$1.5billion in the development of the Jubilee Field.

    Backed by private equity firms Blackstone Group and Warburg Pincus, Kosmos owns a 23.49 percent stake in the offshore oilfield.

    On corporate social responsibility initiatives in Ghana, Kosmos said it will lend support to both government and the Ghana Health Service in fighting malaria in the country.

    For this reason, Kosmos in collaboration with Teachers Against Malaria Epidemic (TAME), a non-governmental organisation, last month launched a three-month anti-malaria campaign at Beyin in the Jomoro District of the Western region dubbed the “Kosmos Energy Anti-Malaria Campaign”.



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