It appears the protracted wrangle over the shares of Jubilee partner Kosmos Energy would see a significant development sometime soon.

There have been a number of developments already following from last week’s meeting between the Energy Minister and representatives of ExxonMobil, with latest reports indicating that officials hammering out a deal have been given a week’s deadline to advise the president on the way forward.

The Financial Times reports that a special committee set up by the president has up to Wednesday to as it put it, “find a way out of the dispute with Kosmos Energy”.

Energy Minister Dr. Oteng Agyei would not say much, except to confirm to Joy Business that work was ongoing on a possible deal.

His Deputy, Emmanuel Kofi Buah earlier told Joy Business government is seeking a deal in which all the parties, especially the state would benefit.

Kosmos Energy wants to sell its 23.5 percent stake in Jubilee to ExxonMobil for some 4 billion dollars.

Government however blocked the deal partly because it wants to control who participates in the venture because of its importance to the country’s fortunes and partly because of the way it says Kosmos went about the sale.

Source: Joy Business/Myjoyonline.com/Ghana

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