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Statoil Divests Block 15/06 Interest Offshore Angola

Source: www.gulfoilandgas.com 5/12/2014, Location: Africa

Statoil is divesting its 5% participating interest in the ENI-operated block 15/06 offshore Angola to the concessionaire Sonangol E.P. The transaction, subject to customary closing conditions, includes a consideration of USD 200 million and an effective date of 1 January 2013.

“This transaction is part of Statoil’s continued optimisation process to maximise value and focus financial and organisational capabilities to core assets. The transaction will allow Statoil to unlock capital and contribute to improved financial flexibility going forward,” says Statoil sub-Saharan Africa senior vice president Tove Stuhr Sjoblom.

Statoil in Angola

The Angolan continental shelf is the largest contributor to Statoil's oil production outside Norway and is a key building block for Statoil’s international production growth.

Statoil’s equity production from Angola equalled approximately 200,000 barrels of oil per day in 2013. In addition to the ownership in four producing assets, Statoil also holds participating interests in several other licenses including exploration blocks in the Kwanza basin offshore Angola.

For more information about related Opportunities and Key Players visit West Africa Projects

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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