Deal insight

Marathon sells its 10% stake in Block 32 Angola to Sonangol EP for US$590 million

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Report summary

On 10 September 2013 Marathon announced an agreement to sell its 10% stake in deep water Block 32 in Angola's offshore Lower Congo Basin to Sonangol EP for US$590 million. Our base case valuation for the deal is US$687 million (discounted at 10% from January 2013). This is Marathon's second disposal in Angola in a matter of months; in June 2013 Marathon sold its stake in neighbouring Block 31 to Sonangol Sinopec International for US$1.52 billion. Completion of this deal will ...

What's included

This report contains

  • Document

    Marathon sells its 10% stake in Block 32 Angola to Sonangol EP for US$590 million

    PDF 731.90 KB

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 8 images and tables including:

Images

  • Block 32 Angola

Tables

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

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