TotalEnergies and Inpex divest Angolan stakes
The firms will sell their joint venture and its non-operating stakes to Angola’s Somoil
TotalEnergies and Japan’s Inpex have agreed to sell their stakes in Angola’s block 14 joint venture (JV), in which they hold 50.01pc and 49.99pc respectively. The JV has a 20pc interest in block 14 and another 10pc in the Lianzi field, also known as block 14k. The two shareholders will sell the JV and its non-operating stakes to Angolan private company Somoil, subject to regulatory approval from Luanda. The mature fields have been in production since 1999, and the JV’s share of output averaged 9,000bl/d oe in 2021. “TotalEnergies is implementing its strategy to high-grade its oil portfolio, focusing on assets with low costs and low emissions,” says Henri-Max Ndong-Nzue, senior vice-presiden
Also in this section
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind