M&A Deal Summary

Sinopec International Petroleum Exploration & Production and CNOOC Acquire Marathon International Petroleum Angola Block 32

On July 17, 2009, Sinopec International Petroleum Exploration & Production and CNOOC acquired oil/gas exploration company Marathon International Petroleum Angola Block 32 for 1.3B USD

Acquisition Highlights
  • This is Sinopec International Petroleum Exploration & Production’s 1st and CNOOC’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is Sinopec International Petroleum Exploration & Production’s and CNOOC’s 3rd largest (disclosed) transaction.
  • This is Sinopec International Petroleum Exploration & Production’s 1st and CNOOC’s 1st transaction in Cayman Islands.

M&A Deal Summary
Date 2009-07-17
Target Marathon International Petroleum Angola Block 32
Sector Oil/Gas Exploration
Buyer(s) Sinopec International Petroleum Exploration & Production
CNOOC
Deal Type Joint Venture
Deal Value 1.3B USD

Target

Marathon International Petroleum Angola Block 32

Cayman Islands
Marathon International Petroleum Angola Block 32 Ltd.with an acreage of 5,090 square kilometers, is an oil rich deepwater exploration block with 12 oil discoveries. The block is located about 150 kilometers off the coast in a water depth of 1400 to 2200 meters.

Search 199,713 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 2

Buyer

Sinopec International Petroleum Exploration & Production

Beijing, China
Category Company
Founded 2001
Sector Oil/Gas Exploration
DESCRIPTION

Sinopec International Petroleum Exploration & Production Corp.is specialized in overseas oil and gas investment and operations.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Joint Venture) 1 of 1
Country (Cayman Islands) 1 of 1
Year (2009) 1 of 1
Size (of disclosed) 1 of 1
Buyer

CNOOC

Hong Kong, China
Category Company
Founded 1999
Sector Oil/Gas Exploration
Employees21,786
Revenue 432.2B CNY (2022)
DESCRIPTION

CNOOC is a producer of offshore crude oil and natural gas in China and one of the independent oil and gas exploration and production companies in the world. The Group mainly engages in exploration, development, production and sale of oil and natural gas. CNOOC was founded in 1999 and is based in Hong Kong, China.

DEAL STATS #
Overall 2 of 6
Sector (Oil/Gas Exploration) 2 of 6
Type (Joint Venture) 1 of 1
Country (Cayman Islands) 1 of 1
Year (2009) 1 of 1
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-08-23 North West Shelf Gas Pty

Perth, Australia

North West Shelf Gas (NWSG) is an agency established by the North West Shelf Project to market domestic gas to gas distribution/aggregation companies, electricity producers, major industrial customers and gas traders in Western Australia.Backed by the North West Shelf Project’s world class reserves and safe and reliable production record, NWSG draws on the capability and experience of some of the world’s leading energy companies.Flexible in our approach, we have a reputation for customer service excellence and providing fair and competitive gas supply solutions.

Buy $320M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-18 Block 15/34

China

Block 15/34 comprises oil exploration and production property. Currently gross production from the block is 49,000 barrels of oil per day.

Buy $515M
Mergr

Product

Company

Legal