Marathon Inks $590M Angola Asset Sale Amid Int'l Scale-Down

Law360, New York (September 10, 2013, 4:52 PM ET) -- Marathon Oil Corp. plans to sell its 10 percent slice of an offshore oil and gas block in Angola for $590 million to Sonangol EP, part of a divestment push meant to free up resources for new exploration and developments, the company said Tuesday.

Sonangol, Angola's main energy company, did not say how it could cover its purchase. The deal paves the way for Marathon's complete exit from the southwest African country, following a $1.5 billion deal announced earlier this summer that sent its interest in...
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