TotalEnergies sells a non-operated stake in Angola

PARIS (Agefi-Dow Jones)–Energy producer TotalEnergies announced on Monday that it has signed an agreement to sell joint venture Angola Block 14 BV to Angolan company Somoil. Financial details of the transaction were not disclosed.

“Angola Block 14 BV, owned by TotalEnergies Holdings International BV (50.01%) and Inpex Angola Block 14 Ltd (49.99%), has a 20% stake in Block 14 in Angola and a 10 % in the 14K block”, blocks in production since 1999, TotalEnergies said in a press release.

“By disposing of this interest in mature fields, TotalEnergies is implementing its strategy and continuing to restructure its portfolio of oil assets, focusing on low-cost assets with low greenhouse gas emissions,” explained the Africa director of the Exploration & Production branch of TotalEnergies, Henri-Max Ndong-Nzue, quoted in the press release.

Angola Block 14’s net production was 9,000 barrels of oil equivalent per day in 2021, TotalEnergies said.

-Alice DorĂ©, Agefi-Dow Jones; +33 (0)1 41 27 47 90; [email protected] ed: DID

Agefi-Dow Jones The financial newswire

Dow Jones Newswires

January 17, 2022 02:46 ET (07:46 GMT)

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