Sonangol selects bidders for divestments

Angolan NOC selects preferred bidders—with exclusive acquisition rights—to buy partial stakes in six blocks, four of which are already in production

Angola’s Sonangol called last year for bids on portions of its equity shares in various blocks and has been evaluating the results since September. The NOC has now selected preferred bidders for its planned divestments. AIM-listed independent Afentra is in pole position for 20pc of block 3/05. A consortium comprising Namibian NOC Namcor, Euronext Access-listed Sequa and private Angolan firm Petrolog has been selected for 10pc of block 15/06. And Sonangol has opted for another consortium, consisting of private Angolan company Somoil and Africa-focused developer Sirius, for 8.28pc and 10pc stakes of block 18 and block 31 respectively. All four blocks are already in production. “The next