Africa Oil & Gas: Angola’s Sonangol says settled dispute with Cobalt International Energy

Sonangol - Carlos_saturnino
Carlos Saturnino, the new Sonangol CEO

Cobalt had filed arbitration requests in May seeking in excess of $2 billion due to the impact of failed extension talks on its attempts to sell offshore blocks 20 and 21 in Angola.

Sonangol said it would pay $150 million by Feb. 23 and a further $350 million by July 1.

Reporting by Stephen Eisenhammer; Editing by Gareth Jones

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