Petroleum Africa
Find us on: 
Wednesday, July 4, 2018
Sonangol, the state-run oil and gas firm of Angola, revealed that it settled its dispute with Cobalt International Energy. Sonangol said it made a $350 million payment to the US independent oil and gas firm to settle the dispute over the sale of two oil blocks.
Cobalt had filed arbitration requests in 2017, seeking in excess of $2 billion due to the impact of failed extension talks on its attempts to sell offshore blocks 20 and 21 in Angola.
Sonangol said at the end of 2017 that the pair had come to an agreement that had the Angolan firm paying $500 million to Cobalt. The $350 million payment it made on June 11 was the final installment according to Sonangol cited in a Reuters report.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
