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AJOCO, a holding company owned 65.7% by Mitsubishi Corporation, has completed the sale of its 20% interest in Blocks 3/05 and 3/05A, offshore Angola, to a subsidiary of Etablissements Maurel & Prom, listed on the Paris Euronext. The shallow-water (c. 100m depth) blocks have been producing since the mid-1980s and the consideration for the sale was $80 million (subject to completion adjustments).

Herbert Smith Freehills advised AJOCO with a team led in Paris by Rebecca Major, assisted by Sharif Abousaada, Firas Albani, Mika Morissette and Matthias Steiner, as well as Lewis McDonald and Eliza Eaton in Tokyo.

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Nathalie Tekadiomona

Nathalie Tekadiomona, Communications and Marketing Lead - Paris