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 ...

What's included

This report contains

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    Sinopec and Sonangol acquire Marathon's interest in Angola's deepwater Block 31 for US$1.52 billion

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Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
    • Technical Fields and Exploration Potential
    • Risks
    • Marathon
    • Sonangol Sinopec International
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 10 images and tables including:

Images

  • Block 31

Tables

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Upstream assets: Table 2
  • Upstream assets: Table 3
  • 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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