Exxon Mobil accepts to buy Kosmos' stake in the jubilee oilfields, but government is yet to consent to the deal. The world’s second largest company, Exxon Mobil is taking a stake in Ghana jubilee oil fields after agreeing to acquire the shares of Kosmos Energy. Kosmos which together with Tullow oil and Anadarko are developing the country’s oil field, announced last year the intention to sell its stake in the business. The announcement attracted interest from major global oil firms from Europe, the US, and China. News monitored from foreign media suggests that Exxon Mobil has virtually acquired the Kosmos shares in a deal worth 4 billion dollars. Meanwhile, sources close to government have confirmed that Exxon Mobil and Kosmos have reached some agreement but government is yet to consent to the deal. If the deal goes through, Ghana will be hosting the world’s biggest oil firm and the second biggest company in the world. Under the country’s laws, the Energy Minister must sanction such a transaction before it becomes effective. However, the sources add that China National Offshore Oil Corporation is equally bent on acquiring the Kosmos' stake and this could generate some geopolitical competition between the US and China. Government will be the final arbiter in a keenly contested bid for a stake in the jubilee oil fields. Source: Joy News/Myjoyonline.com/Ghana