Total divests stake in Angola offshore block

Total has sold its 15% interest in block 15/06 offshore Angola to Sonangol E&P for $750 million.

Feb 4th, 2014

Offshore staff

PARIS--Total has sold its 15% interest in block 15/06 offshore Angola to Sonangol E&P for $750 million.

The French company says it prefers tofocus investment in the region on block 17, where the CLOV project is currently under development, and the future development of Kaombo in block 32 inAngola.

Block 15/06, operated by Eni, is northwest of Luanda in water depths ranging from 220-1,700 m (722-5,576 ft). The block’s northwestern hub, currently under construction, should enter production in 2015, and a final investment decision is pending for a northeastern project.

2/4/14

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