Maersk Considers Angolan Sale

Wednesday, September 10, 2014

Maersk Oil is considering selling off a portion of its stake in Angola’s Chissonga. The Chissonga lies in 1,500 meters of water, making it an expensive deepwater oil development project.

Maersk Oil has a 65% stake in the block which is thought to contain over 100 million barrels of oil and is due to produce first oil in 2017-2018.

During the company’s Q2 conference call A.P. Moller-Maersk chief executive Nils Andersen hinted that a sale could take place. “We do have a high operating share in Angola and it could be natural to reduce that at a point in time.”

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