Galp has agreed to sell its upstream assets offshore Angola to Somoil -Sociedade Petrolífera Angolana.
The transaction, estimated at about $830 million, should complete during the second half of this year.
The sale comprises
- Block 14 (9% Galp): Tombua; Landana; BBLT – Benguela, Belize, Lobito, Tomboco; and Kuito;
- Block 14K (4.5% Galp): Lianzi;
- Block 32 (5% Galp): Kaombo (operating) and CNE (under development).
Somoil is already present in Block 14.
Leave a Reply