Exxon Absorbs Kosmos Staff
MANAGEMENT OF ExxonMobil, the US oil company that bought Kosmos Energy's 30 percent stake in the Jubilee Oilfield recently, has assured employees of its predecessor that they will not lose their jobs as a result of the buy-out. At a one-on-one meeting with staff of Kosmos Energy last Friday in Accra, management of the oil giant sought the full partnership and commitment of the employees to engender a smooth transition and further pave way for the achievement of its goals and objectives.
A source close to Kosmos, who disclosed this to BUSINESS GUIDE, noted that most of the employees expressed satisfaction with the announcement from ExxonMobil.
The development confirms reports made by this paper that the Kosmos-ExxonMobil deal has been endorsed by Government.
It would be recalled that just after Kosmos officially informed President Mills of the sale of its 30 percent shares to ExxonMobil, through a letter signed by Brian Maxtead, Chief Operating Officer of the Kosmos Energy, Government directed ExxonMobil to provide its business proposal.
Adverts of the oil giant were spotted in the press, touting the competence, expertise and social contributions of the company.
At a point in time, Government took exception to the Kosmos-ExxonMobil deal, insisting that it would not endorse it since the law required it to be privy to whoever was buying the shares before it finally gave its blessing.
ExxonMobil is an American multinational oil and gas corporation which is a direct descendant of John D. Rockefeller's Standard Oil company.
It was formed on November 30, 1999 as a result of the merger between Exxon and Mobil and headquartered in Irving, Texas.
It is one of the largest publicly traded companies in the world, with oil reserves of about 72 billion oil-equivalent barrels at the end of 2007.
With 38 oil refineries in 21 countries constituting a combined daily refining capacity of 6.3 million barrels, ExxonMobil is the largest refiner in the world.
By Samuel Boadi