TotalEnergies and Angola sign block 29 deal
The country’s offshore upstream remains a draw for IOCs even as they grow increasingly selective about their portfolios
Angolan state-owned energy regulator the ANPG has signed a production-sharing contract with TotalEnergies’ Angolan subsidiary for the country’s offshore block 29. Total E&P Angola will operate the block with a 42.8pc stake. The French firm’s partners in the development are Norway’s Equinor (22.8pc), BP (8.8pc), Malaysian NOC Petronas (5.6pc) and Angola’s state-owned Sonangol (20pc). Block 29 is in the Namibe Basin at a water depth of 1,500-2,500m, around 75km from the coast Licensing round extension Sonangol has also extended the deadline for bids in its latest licensing round, citing high interest. Bidders now have until 20 September to submit proposals for the nine blocks offered in th
Also in this section
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them
22 April 2024
Beijing’s renewed targeting of NOC management could threaten investment