Finance

Galp strikes $830 million deal to exit Angola as it cleans up portfolio

Portuguese player sells deep-water stakes to ambitious Angolan player Somoil

New partner: A worker aboard TotalEnergies' Kaombo North floating production, storage and offloading vessel in Block 32 offshore Angola, an asset that Luanda-based Somoil will soon have a stake in thanks to its acquisition of Galp's Angolan upstream portfolio.
New partner: A worker aboard TotalEnergies' Kaombo North floating production, storage and offloading vessel in Block 32 offshore Angola, an asset that Luanda-based Somoil will soon have a stake in thanks to its acquisition of Galp's Angolan upstream portfolio.Photo: AFP/SCANPIX
London
AngolaGalpSomoilAfricaSub-Saharan Africa
Published 13 February 2023, 10:29Updated 13 February 2023, 12:21