Somoil to acquire the Angolan upstream assets of Galp for $830m.

Somoil, Angola's largest privately held energy company, agreed to acquire the Angolan upstream assets of Galp, a Portuguese multinational energy corporation, for $830m. “This transaction allows Galp to crystalize value from mature upstream assets and supports the high-grading of our upstream portfolio and our decarbonisation strategy. We are confident that Somoil, already present in Block 14, will be a strong contributor to the development of these longstanding Galp assets,” Filipe Silva, Galp CEO.