Eni, Total, BP and Equinor awarded stakes in Angolan offshore frontier blocks

Published by Nicholas Woodroof, Editor
Oilfield Technology, Friday, 17 January 2020 09:00

As reported by Reuters, Eni and Total were among the successful bidders for rights to develop three offshore blocks in Angola out of 10 auctioned late last year.

Eni and Total won operator rights to blocks 28 and 29 respectively in the offshore Namibe basin, while Angola’s state oil company Sonangol and Equinor and BP were awarded smaller stakes, regulator ANPG said in a statement.

All of the blocks are “frontier”, meaning they do not currently produce oil or gas.

The bid round for the fields in the Namibe and Benguela basins closed in November 2019.

ANPG did not award any stakes in the Benguela basin, and some stakes in the other blocks are also still available.

Sonangol won a 35% interest in block 27, but the remaining 65% interest is still on offer. Sonangol also won a 20% interest in block 28. Eni, the operator, won a 60% stake, with the remaining 20% remaining up for grabs.

Block 29 was fully awarded, with operator Total taking a 46% stake, Equinor winning 24.5%, Sonangol taking 20% and BP winning a 9.5% concession share.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/17012020/eni-total-bp-and-equinor-awarded-stakes-in-angolan-offshore-frontier-blocks/