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7 Pages

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

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

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 includes 1 file(s)

  • Sinopec and Sonangol acquire Marathon's interest in Angola's deepwater Block 31 for US$1.52 billion PDF - 835.61 KB 7 Pages, 9 Tables, 1 Figures


The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • 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

In this report there are 10 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
  • Upstream assets
    • Upstream assets: Table 1
    • Upstream assets: Table 2
    • Upstream assets: Table 3
    • Block 31
  • Deal analysis
    • Deal analysis: Table 1
    • Deal analysis: Table 2
    • Deal analysis: Table 3
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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