The US independent has already received $250 million from the Angolan state giant in relation to the latter’s intended purchase of 40% stakes in each of deep-water blocks 20 and 21 in the pre-salt Kwanza basin.
The deal was reached a year ago but its completion was dependent on government approvals in Luanda. As these have not been forthcoming, the deal terminated on Tuesday, Houston-based Cobalt confirmed.
The
