Companies

Total sells its 15% interest in block 15/06 to Sonangol

The transaction is valued at US$750 million.

Total
04/02/2014 12:21
Total sells its 15% interest in block 15/06 to Sonangol Imagem: Statoil Visualizações: 994 (0) (0) (0) (0)

 

Total announced today the sale of its 15% participating interest in the offshore Angola Block 15/06 to Sonangol E&P. The transaction is valued at 750 million dollars and remains subject to customary approvals.
“The sale of our interest in Block 15/06 is in line with Total’s global strategy to actively manage its portfolio and focus its investment capability on core assets in which it has more material interests, such as Block 17 with the CLOV project currently under development and the future development of Kaombo on Block 32 in Angola” said Jacques Marraud des Grottes, Senior Vice-President Africa at Total’s Exploration and Production.
Block 15/06 is located approximately 350 km northwest of Luanda in deep offshore Angola and covers approximately 2,984 square kilometres, with a water depth ranging from 220 to 1,700 m.
The north-western hub of the block, currently under construction, is expected to produce in 2015 and a final investment decision for a north-east project is expected to be taken in 2014. The block is operated by Eni (35%) with partners Total (15%), Sonangol (15%), SSI (a joint affiliate of Sinopec and Sonangol, 25%), Statoil (5%) and Falcon Oil Angola Investimentos (5%).

Total announced today the sale of its 15% participating interest in the offshore Angola Block 15/06 to Sonangol E&P. The transaction is valued at 750 million dollars and remains subject to customary approvals.


“The sale of our interest in Block 15/06 is in line with Total’s global strategy to actively manage its portfolio and focus its investment capability on core assets in which it has more material interests, such as Block 17 with the CLOV project currently under development and the future development of Kaombo on Block 32 in Angola” said Jacques Marraud des Grottes, Senior Vice-President Africa at Total’s Exploration and Production.


Block 15/06 is located approximately 350 km northwest of Luanda in deep offshore Angola and covers approximately 2,984 square kilometres, with a water depth ranging from 220 to 1,700 m.


The north-western hub of the block, currently under construction, is expected to produce in 2015 and a final investment decision for a north-east project is expected to be taken in 2014. The block is operated by Eni (35%) with partners Total (15%), Sonangol (15%), SSI (a joint affiliate of Sinopec and Sonangol, 25%), Statoil (5%) and Falcon Oil Angola Investimentos (5%).

Most Read Today
see see
FIRJAN
Agrega + Indústria brings together entities, companies, ...
29/07/26
SOG 2026
ABPIP brings to Sergipe Oil & Gas a debate on strengthen...
28/07/26
Event
BR Aviation presents its portfolio of customized solutio...
23/07/26
Royalties
Royalties: amounts referring to May production distribut...
23/07/26
Fuels
Fuel and lubricants sector registers 1.8% drop in June, ...
22/07/26
IBP
Studies point to redundancy of the export tax and extra ...
22/07/26
PPSA
7th Spot Auction: PPSA markets cargoes from Atapu and Ba...
20/07/26
Results
Union oil production reaches 244 thousand barrels per da...
17/07/26
State of Ceará
Natural gas arrives in Cariri (CE) and strengthens econo...
16/07/26
Terminals
Vast announces contract extension with PETRONAS Brasil u...
15/07/26
International
War, oil and the dollar: how global fluctuations impact ...
13/07/26
ANP
Third-party access to natural gas flow pipelines and pro...
10/07/26
Agreement
ANP and Petrobras sign agreement to bring 335 offshore w...
07/07/26
Logistics
Vast Infraestrutura and Petrobras strengthen partnership...
07/07/26
IBP Positioning
Change of the instrument does not fix the illegalities o...
07/07/26
Energy Summit
Energy Summit 2026: Embrapii technologies strengthen Bra...
22/06/26
Energy Summit
Biodiesel and renewable fuels move to the center of the ...
22/06/26
Natural Gas
ANP extends public consultation on the calculation of th...
22/06/26
Rio de Janeiro
Firjan’s Oil Yearbook in Rio highlights that positive pr...
22/06/26
Biomethane
With a market five times larger since 2020, the biometha...
22/06/26
Petrobras
Petrobras approves investment in bio-jet fuel and renewa...
22/06/26
VEJA MAIS
Newsletter TN

Contact us

We use cookies to ensure you have the best experience on our website. If you continue to use this site, we will assume that you agree with our Privacy Policy, terms of use and cookies.