HOUSTON, June 25, 2013 (GLOBE NEWSWIRE) -- Marathon Oil Corporation (NYSE: MRO) today announced that its subsidiary, Marathon International Oil Angola Block 31 Limited, has entered into a definitive agreement to sell its 10 percent working interest in the Production Sharing Contract and Joint Operating Agreement in Block 31 offshore Angola to SSI Thirty-One Limited (Sonangol Sinopec International). The transaction has a total value of approximately $1.5 billion, excluding any purchase price adjustments at closing. The companies anticipate closing the transaction in the fourth quarter of 2013, with an effective date of Jan. 1, 2013.
Marathon Oil Announces $1.5 Billion Sale Of Interest In Angola Block 31
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