TotalEnergies sells 40% interest in Angola Block 20 to Petronas
Sept. 28, 2023
TotalEnergies EP Angola Block 20 has finalized the sale of 40% interest in Block 20 in the Kwanza basin in Angola to Petronas Angola E&P Ltd. (PAEPL) for $400 million.
TotalEnergies remains operator of the block with 40% interest. Partners are PAEPL (40%) and Sonangol Pesquisa e Produção SA (20%) (OGJ Online, May 2, 2023).
Block 20 contains the Cameia and Golfinho oil discoveries, which lie around 150 km southwest of Luanda. The discoveries are expected to be developed through a system of subsea wells connected to a floating production, storage, and offloading (FPSO) with an oil production capacity of 70,000 b/d, which will be the seventh FPSO developed by TotalEnergies in Angola.
The project will include technologies to minimize greenhouse gas emissions and the infrastructure will be designed for zero flaring, with the associated gas entirely reinjected into the reservoirs, the operator said.
Blocks 21/09 and 20/15 were merged into Block 20/11 (Block 20) by presidential decrees in July 2023.
