As announced on 2 July 2018 SOCO has entered into a sale and purchase agreement (SPA) for the sale of the Group’s entire 80% shareholding in SOCO Cabinda, the company holding a 22 percent, non-operating, working interest in the production sharing contract for the Cabinda North Block, Angola.
The long stop date for satisfaction or, where applicable, waiver of the SPA conditions was 31 August 2018. The parties to the SPA have agreed an extension of this long stop date to 30 September 2018 to allow additional time for receipt of the customary approvals required for completion. A further update will be provided to the market in due course.Source: SOCO International
You must log in to post a comment.