Deal Insight
Sinopec and Sonangol acquire Marathon's interest in Angola's deepwater Block 31 for US$1.52 billion
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Report summary
On 25 June, 2013, Marathon announced it had agreed to sell its 10% stake in Block 31, in Angola's offshore Lower Congo Basin, to Sonangol Sinopec International (SSI), a partnership between Sinopec Group and China Sonangol, for US$1.52 billion. Our base case valuation of the deal is US$1.66 billion (discounted at 10% from January 2013). This is one of the largest asset deals ever announced in Angola and just the second involving a producing deepwater asset.The block contains one ...
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
-
Upsides and risks
- Technical Fields and Exploration Potential
- Risks
-
Strategic rationale
- Marathon
- Sonangol Sinopec International
- Oil & gas pricing and assumptions
Tables and charts
This report includes 10 images and tables including:
- Executive summary: Table 1
- Upstream assets: Table 1
- Upstream assets: Table 2
- Upstream assets: Table 3
- Block 31
- 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
What's included
This report contains:
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