I guess those assets in Angola we are selling off aren’t technically being layed off.
But, probably a good thing to get out from under Chevron while they can.
Who’s next. APAC?
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One of our worst-managed assets, historically. The developments were management-led trainwrecks of the worst sort.
Yeah block 14 has been a disaster. But a lot of block 14 infrastructure flows through block 0, so I wonder how that will work.
The assets include Chevron's 31% operated interest in Block 14 and 15.5% non-operated interest in Block 14K (containing the Lianzi oil field). The production volume is around 42,000 barrels of oil per day gross (about 13,000 net to the acquired stake).The financial terms are $260 million base cash consideration, plus potential contingent payments up to $25 million annually through 2038 (capped at $250 million) tied to future developments and oil prices. Chevron will retain Block 0, Block 33, and Angola LNG.