Genel Energy and White Rose have formed a joint venture which will pay more than US $280m for minority shares in two Statoil-operated blocks in Angola's Kwanza Basin, where a pair of pre-salt wildcats will shortly start drilling. The two companies, both with former BP CEOs in their top management, have bought 15% in Block 39 from Statoil for $222m and the same in Block 38 from China Sonangol for a payment of $59m.
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