Exxon (XOM) has reportedly approached Gulf Keystone Petroleum (GUKYF.PK) about a purchase that...

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

Exxon (XOM) has reportedly approached Gulf Keystone Petroleum (GUKYF.PK) about a purchase that could value the company at about £7B, nearly 5X its current market cap, according the The Independent. Gulf is sitting on a huge crude discovery in Kurdistan, but the government is thought to want an oil giant involved to develop the field. Other majors - including Chevron (CVX) and Sinopec (SNP) - may have interest as well.