Africa Oil announces closing of acquisition of producing assets in deepwater Nigeria

14th January 2020

Africa Oil Corp. has acquired a 50% ownership interest in Petrobras Oil and Gas B.V. ("POGBV"). This is a transformational transaction as Africa Oil becomes a full-cycle E&P company with material reserves and production, strong operating netbacks, and free cash flow generation that is supported by an active oil price hedging program at the POGBV level.

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