Norway’s Statoil sells 5% in Angolan project

May 13, 2014

Statoil is divesting its 5% participating interest in the ENI-operated block 15/06 offshore Angola to the concessionaire Sonangol E.P, Statoil’s press office said on May 12.

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 Sjøblom.

Source: Statoil Press Office, 2014