Shell buys stakes in Angolan offshore blocks from Chevron
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Shell has agreed to purchase stakes in two undeveloped offshore blocks in Angola from Chevron. The deal, which includes a 35% interest in Block 49 and 50, has received governmental approval and is pending final legal requirements. This move is part of Shell's strategy to sustain production into the 2030s and grow its gas production by 1% through 2030. Financial details of the transaction were not disclosed.
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