TotalEnergies has signed an agreement together with Inpex to sell the company Angola Block 14 B.V. to the Angolan company Somoil, with the transaction subject to the approval of Angolan authorities.
Angola Block 14 B.V. is owned by TotalEnergies Holdings International BV (50.01 per cent) and Inpex Angola Block 14 Ltd (49.99 per cent), and holds a 20 per cent interest in block 14 in Angola and a ten per cent interest in block 14K.
The offshore blocks have been producing since 1999, with net production of 9,000 barrels of oil equivalent per day in 2021.
TotalEnergies Exploration and Production senior vice president Africa Henri-Max Ndong-Nzue said by divesting this interest in mature fields, TotalEnergies was implementing its strategy to high-grade its oil portfolio, focusing on assets with low costs and low emissions.
He added: “TotalEnergies remains the number one energy player in Angola, through its leading operating position in deep-offshore, its interest in Angola LNG, and in a first solar power plant project, Quilemba Solar, located in the southwest of the country.”
TotalEnergies has been present in Angola since 1953, where it today employs around 1,600 people in the business segments of exploration and production, integrated gas, renewables and power, and marketing and services.
TotalEnergies’ equity production in Angola averaged 212,000 barrels of oil equivalent per day in 2020 from operated blocks 17 and 32 and from non-operated blocks 0, 14, 14K, and Angola LNG.
The company is the country’s leading oil operator with close to 45 per cent of Angola’s operated oil production, four operated blocks in development phase, and two blocks in exploration phase.
It holds a stake in the 5.2 million ton per year Angola LNG liquefaction plant, currently supplied with associated gas from offshore oil fields, and in the New Gas Consortium, the first non-associated gas project to be developed in Angola.
TotalEnergies is also working closely with Angolan authorities to develop renewable and solar projects in the country.