Deal insight

Total sells its 15% interest in Angola deep water Block 15/06 to Sonangol EP for US$750 million

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Report summary

On 4 February 2014 Total announced it had sold its non operated 15% stake in deep water Block 15/06 in Angola's offshore Lower Congo Basin to Sonangol EP for US$750 million. Our base case valuation of the deal is US$674 million (discounted at 10% from January 2014). This is Sonangol EP's third major acquisition offshore Angola since June 2013 following deals to acquire Marathon's interests in Block 31 (as partner in China Sonangol) and Block 32.The block contains two ...

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    Total sells its 15% interest in Angola deep water Block 15/06 to Sonangol EP for US$750 million

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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 7 images and tables including:

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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