Petroleum Africa
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Tuesday, May 13, 2014
Statoil made a portfolio adjustment in Angola with the sale of its 5% stake in the ENI-operated Block 15/06 to state-run Sonangol. The transaction is subject to customary closing conditions and is worth a cash consideration of $200 million.
The sale has an effective date of January 1, 2013.
“This transaction is part of Statoil’s continued optimization process to maximize value and focus financial and organizational 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 VP Tove Stuhr Sjøblom.
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