Sonangol to Buy Cobalt's Stake in 2 Offshore Blocks
Posted by Eric HaunAugust 24, 2015
Angolan state oil company Sonangol said it would buy oil and gas producer Cobalt International Energy Inc's 40 percent stake in two oil blocks offshore Angola for $1.75 billion.
Cobalt operates three blocks covering 3.4 million acres off the Angolan coast.
Photo: Cobalt International EnergyPhoto: Cobalt International Energy
(Reporting by Anannya Pramanick; Editing by Saumyadeb Chakrabarty)