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 ...
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
-
Upsides and risks
- Technical Fields and Exploration Potential
- Risks
-
Strategic rationale
- Total
- Sonangol EP
- Oil & gas pricing and assumptions
Tables and charts
This report includes 7 images and tables including:
- 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
What's included
This report contains:
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