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Sonangol to buy Stake in Cobalt Offshore Blocks

Posted by August 24, 2015

Angolan state oil company Sonangol said it would buy oil and gas producer Cobalt International Energy Inc's 40 percent stake in two oil blocks offshore Angola for $1.75 billion.

Cobalt operates three blocks covering 3.4 million acres off the Angolan coast.

 

Reporting by Anannya Pramanick

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