Total Sells Interest in Angola Block to Sonangol

French major Total announced Tuesday that it has sold its 15-percent interest in Block 15/06, offshore Angola, to Sonangol E&P for $750 million.

Block 15/06 is located approximately 220miles northwest of Luanda, covering approximately 1,150 square miles with water depths ranging from between 720 feet and 5,575 feet. The northwestern hub of the block is expected to produce in 2015 with a final investment devision for a northeast project expected to be taken in 2014.

Jacques Marraud des Grottes, senior vice-president for Africa at Total Exploration and Production, said in a company statement:

"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."

The block is currently operated by Italy's Eni, which has a 35-percent stake.


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
 -  Scottish Government Reveals New Subsea... (Jan 20)
 -  SOFF Secures Services Contract for Jan... (Jan 20)
 -  NPD Grants Lundin Permit for Appraisal... (Jan 20)
 -  Lion: AMT-1 Well Abandoned After Stuck... (Jan 20)
 -  Unite: Workers 'Deeply Unhappy' About ... (Jan 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Business Development Analyst
Expertise: Business Analyst|Business Development
Location: Chesapeake, VA
Attorney I
Expertise: Contracts Administration|Legal
Location: Houston, 
Project Engineer/Project Manager
Expertise: Project Management
Location: Baton Rouge, 
search for more jobs

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours