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China Daily | Updated: 2013-06-25 07:41
Sinopec agrees to buy into Angolan oilfield
Sinopec Group, Asia's largest refiner, has agreed to buy 10 percent of Marathon Oil Corp's Angolan offshore oil and gas field for $1.52 billion. Sonangal Sinopec International Ltd, a group subsidiary, will acquire 10 percent of the shares in Houston-based Marathon's field, Block 31, the State-owned oil company said.
Marathon is a United States-based independent oil company that owns a 10 percent stake of Block 31 and a 10 percent stake of Block 32.
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