TotalEnergies sells 40% stake in Block 20 offshore Angola for $400m

TotalEnergies sells 40% stake in Block 20 offshore Angola for $400m

Block 20 comprises the Cameia and Golfinho deep-water oil discoveries, which are due to be commissioned in 2026.

French energy company TotalEnergies has closed the sale of a 40% stake in Block 20 in the Kwanza Basin in Angola to Petronas Angola E&P LTD (PAEPL), a unit of Petronas, for $400m (€380.7m).

Block 20 comprises the Cameia and Golfinho oil discoveries located around 150km south-west of Luanda.

With the completion of the deal, TotalEnergies now holds an operatorship stake of 40% in Block 20 while PAEPL owns a 40% stake and Sonangol Pesquisa e Produção owns a 20% interest.

French energy company TotalEnergies has closed the sale of a 40% stake in Block 20 in the Kwanza Basin in Angola to Petronas Angola E&P LTD (PAEPL), a unit of Petronas, for $400m (€380.7m).

Block 20 comprises the Cameia and Golfinho oil discoveries located around 150km south-west of Luanda.

With the completion of the deal, TotalEnergies now holds an operatorship stake of 40% in Block 20 while PAEPL owns a 40% stake and Sonangol Pesquisa e Produção owns a 20% interest.

Published: 28-09-2023