Africa-Press – Mozambique. Portugal’s Galp’s Energia has reached an agreement with oil company ADNOC of the United Arab Emirates to sell its position in the consortium prospecting for natural gas in the Rovuma basin in Mozambique for the equivalent of almost €600 million.
In a statement to Portugal’s Securities Markets Commission (CMVM) on Wednesday, Galp announced that it would sell its 10% stake in Area 4 Mozambique, in line with its “disciplined” investment strategy.
It said that the sale should be finalised by the end of the year,
The deal is valued at $650 million (€599 million), it added.
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