Angola: Cobalt to sell to Sonangol

Sonangol and Cobalt Energy on 22 August signed a sale and purchase agreement for Sonangol to acquire all of Cobalt’s 40% participating interest in Blocks 21/09 and 20/11 for $1.75bn. The blocks contain five discoveries, and a final investment decision on the Cameia development is due by year-end.Cobalt said in February it was seeking to revise the development plan for Cameia to cut costs and planned to sell part of its holding.