Inpex Buys Interest in Angola's Block 14

French oil major Total announced Tuesday that it has agreed to sell Japan's Inpex Corporation a 9.99-percent interest in Block 14, offshore Angola.
Block 14 is located approximately 62 miles offshore the city of Cabinda in Angola and covers approximately 1,575 square miles with a water depth ranging from approximately 650 feet to 4,920 feet. The block began production in 1999 and currently produces in excess of 160,000 barrels of oil per day of medium light crude oil.
Block 14 is operated by Cabinda Gulf Oil Company (which holds a 31-percent stake). According to a Total statement, its 20-percent stake in the block will be transferred to a newly-formed Total affiliate, called Angola Block 14, in which Inpex will become a shareholder.
Inpex is already invested in Angola, producing crude oil from Blocks 3/05 and 3/91 and it is also engaged in exploration work in the Onshore Cabinda North Block.
Inpex said in a separate statement that participating in Block 14 will "robustly contribute" to increase its production volume and reserves and enhance its global asset portfolio.
Inpex is also a partner with Total in Australia's Ichthys project.

Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  CNOOC to Drill 126 Exploration Wells i... (Jan 19)
 -  Sound Energy Looks to Buy OGIF's Asset... (Jan 19)
 -  Lundin's Development Expenditure to To... (Jan 19)
 -  The Church of England Conditionally Ba... (Jan 19)
 -  CNOOC Commences Production from Enping... (Jan 18)

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Engineer/Project Manager
Expertise: Project Management
Location: Baton Rouge, 
United States Midland: Account Rep, Bus Dev
Expertise: Business Development|Sales
Location: Midland, TX
United States Midland: Account Rep, Bus Dev
Expertise: Business Development|Sales
Location: Midland, TX
search for more jobs

Brent Crude Oil : $53.92/BBL 2.79%
Light Crude Oil : $51.08/BBL 2.66%
Natural Gas : $3.3/MMBtu 3.22%
Updated in last 24 hours