Inform
Cobalt agrees US$500 million settlement with Sonangol
This report is currently unavailable
Report summary
On 19 December, US independent Cobalt International Energy announced a resolution to its long-running dispute with Angolan state oil company Sonangol. Cobalt will receive a US$150 million payment by 23 February 2018 and a further US$350 million by 1 July. In return, Sonangol will take ownership of the prolific deepwater Angolan Blocks 20 and 21. The deal is a positive step for both sides. Cobalt will receive an injection of much-needed cash, which buys it more time for its Chapter 11 restructuring and Sonangol can start looking for an operator with the cash and know how to progress a viable development.
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Asset Report
Enoch Norway
Enoch is located on the UK/Norway median line and has an assumed unitisation of 80% in the UK and 20% in Norway.
$3,100
Asset Report
Fram Norway
The Fram area consists of a phased development of the Fram H Vest, Fram C Vest and Fram F Øst fields.
$3,100
Asset Report
Gjøa Area
Gjøa Area includes the Gjøa and Hamlet fields in the Northern North Sea.
$4,400
