There are few companies in every country that achieve transformational success resulting in a positive forward movement of the nation’s inhabitants to middle level status. The partnership of EO Group and Kosmos Energy has braved the storm to discover a world class asset in the Jubilee Field in world record time. This partnership has brought true value to mother Ghana and they should be applauded.
Despite the initial propaganda that resulted in pure political witch hunting the truth has prevailed. These companies are the most reviewed in Ghana and they have come out clean. Two of the best professional bodies in investigative international trade: the United States Justice Department [when a partner Anadarko complained] and the World Bank [when Kosmos applied for a loan] have all thoroughly reviewed these companies. Both have come out with flying colors. These two companies have always been legal and have exhibited excellent business acumen to the benefit of Ghana.
These are irrefutable facts that cannot be denied:
1. The only two partners of EO Group, Mr. George Owusu and Dr. Kwame Bawuah-Edusei took the initiative and risk, using their retirement account money to travel the world, sacrificed their professions to find Kosmos and partner with them to invest in Ghana energy sector.
2 .The Kosmos/EO Group partnership found oil for Ghana in record time in Africa. That is from signing of Petroleum Agreement to oil discovery.
3. EO Group and Kosmos Energy won an open competitive bid on pure merit. They had the best technical team [from Harvard, Oxford, Duke Universities. etc.] excellent track record in finding oil in the same region in Equatorial Guinea and were backed by Blackstone [the best private equity firm in the world]. At the time the government was hungry for investment since for 100 years all 100 companies have not found sustainable oil and the nation needed substantial assets to fund national development.
4 Kosmos/ EO Group had an average Petroleum Agreement comparable to many other. Infact other agreements were even better than Kosmos/EO.
5. Kosmos/EO has since positively hit wet well 95% of the time.
6. In 2007, Kosmos/EO pushed for an accelerated programme of development and production to realize first oil in 2009 while the other partners vehemently opposed it. Fortunately, GNPC at the time supported Kosmos/EO position. This current GNPC, however, delayed signing of Plan of Development for unknown reasons and consequently pushed first oil to late 2010.
7. EO Initially suggested and convinced the rest of the partners to give the first 200 billion cubic feet of Gas from the Jubilee field to Ghana for free.
8. Partnership has promoted Ghana in the international scene and placed the country in the world stage as an oil destination.
9. Kosmos has been the technical leader in the West Cape Three Point Block with resounding success and no major disaster.
10. Kosmos/EO know their limits as explorers and are honest about it and have therefore, through open competitive bid, selected the best oil and gas company in the world, ExxonMobil to take over from them and lead Ghana to the higher stage.
11. Kosmos/ EO and their partners have exemplified excellent corporate responsibility in all their community interaction since coming to Ghana in 2004
12. Kosmos/EO and their partners have an excellent environmental record in Ghana.
These and many more reasons prove beyond reasonable doubt that Kosmos Energy of Dallas USA and EO Group of Ghana have immensely contributed to the development of Ghana. Despite all the misguided inquiries they have come out clean. They are not bitter but they are better because the truth will always come out. This partnership of Kosmos/EO is immensely proud of their achievements and no one can take it away from them. May God richly continue to bless them.
By Akoto Hagan
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