Energy Minister Dr. Joe Oteng Agyei says government has presented a fresh proposal to oil exploration firm Kosmos Energy on the disposal of its stake in the Jubilee Field. According to the minister, government, under the new deal, is willing to consider a sale to ExxonMobil only on condition that the Ghana National Petroleum Corporation (GNPC) is first given the chance to buy. Government last year stated its objection to an offer by ExxonMobil to acquire Kosmos’ 23 percent stake in Jubilee for a consideration of about $4 billion, insisting the deal is illegal. Dr. Oteng-Agyei tells Joy Business the latest deal offers the best way out, but indicates that government will not rush any deal. “The government cannot force any investor to sell his assets and go. So we on our part cannot force Kosmos and put a time frame on them…Kosmos have indicated their intention to sell their assets and we as a government also [have] put down the model that we think that they should use. If they want to sell and they are committed to selling, they will come and use that model but if not, I cannot ask them that come and by this time,” he said. Meanwhile Kosmos is expected to remain involved in the Jubilee oilfield project until at least the first crude is produced later this year, Tullow Oil Plc officials have indicated. The company’s vice president for Africa, Tim O’Hanlon, is quoted by Bloomberg to have said in Paris that though the planned sale of Kosmos’ stake in Jubilee to Exxon Mobil has “stalled,” it has not delayed the development of the field. Source: Joy Business/Myjoyonline.com/Ghana