TotalEnergies Sells Angola Company
TotalEnergies has announced that it has signed an agreement to sell, jointly with Inpex, the company Angola Block 14 B.V. to the Angolan company Somoil.
Owned by TotalEnergies Holdings International B.V. (50.01 percent) and Inpex Angola Block 14 Ltd (49.99 percent), Angola Block 14 B.V. holds a 20 percent interest in block 14 in Angola and a 10 percent interest in block 14K. TotalEnergies, which did not reveal the value of the deal, said the transaction is subject to the approval of the Angolan authorities.
“By divesting this interest in mature fields, TotalEnergies is implementing its strategy to high-grade its oil portfolio, focusing on assets with low costs and low emissions,” Henri-Max Ndong-Nzue, Africa Senior Vice President of TotalEnergies Exploration & Production, said in a company statement.
“TotalEnergies remains the number one energy player in Angola, through its leading operating position in deep-offshore, its interest in Angola LNG and in a first solar power plant project, Quilemba Solar, located in the southwest of the country,” the TotalEnergies VP added in the statement.
TotalEnergies has been active in Angola since 1953 and employs more than 1,100 people in the country, according to its website. Last month, the company announced the start of production of CLOV Phase 2 in the country, which is described as a project connected to the existing CLOV FPSO. This tie-back project will reach a production of 40,000 barrels of oil equivalent per day in mid-2022, according to TotalEnergies.
In December, TotalEnergies announced the closing of its agreement to divest to Perenco Oil and Gas Gabon the Cap Lopez Terminal and non-operated assets of its 58 percent owned affiliate TotalEnergies EP Gabon. In July, the company revealed that it had decided to transfer its non-operated minority participation of 30.32 percent in Petrocedeño S.A. to Corporation Venezonala de Petróleos (CVP), an affiliate of Petróleos de Venezuela (PDVSA). In January, the company announced that it had completed the divestment of its 10 percent interest in onshore Oil Mining Lease (OML) 17 to the Nigerian company TNOG Oil & Gas Limited.
To contact the author, email andreas.exarheas@rigzone.com
What do you think? We’d love to hear from you, join the conversation on the
Rigzone Energy Network.
The Rigzone Energy Network is a new social experience created for you and all energy professionals to Speak Up about our industry, share knowledge, connect with peers and industry insiders and engage in a professional community that will empower your career in energy.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- North America Enters Rig Loss Streak
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension