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Sonangol to Buy Cobalt's Stake in 2 Offshore Blocks

Maritime Activity Reports, Inc.

August 24, 2015

Photo: Cobalt International Energy

Photo: Cobalt International Energy

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.
 
 
(Reporting by Anannya Pramanick; Editing by Saumyadeb Chakrabarty)