TotalEnergies sold 40% of Block 20 in Angola to Petronas
TotalEnergies EP Angola Block 20 has closed the sale of a 40% stake in Block 20 of the Kwanza Basin (Angola) to Petronas Angola E&P Ltd (PAEPL, controlled by Malaysian Petronas) ahead of the start of development of the asset, the French oil company said.
The transaction amount is $400 million as of January 1, 2023.
TotalEnergies retained 40% of the block and will continue to act as operator. Also among the project participants remains the local Sonangol Pesquisa e Producao SA, which controls 20% of the shares.
Block 20 includes the Cameia and Golfinho oil fields, located approximately 150 km southwest of Luanda. These fields are planned to be developed using a system of subsea wells connected to a FPSO (floating production, storage and offloading unit) with a capacity of 70 thousand barrels per day.
