Total Acquires Interest in Two Offshore Licenses in Angola
2019年12月17日 - 1:56AM
Dow Jones News
By Cristina Roca
Total SA (FP.FR) said Monday that it has bought stakes two new
offshore licenses in Angola.
The French energy major said that it will pay Angola's Sonangol
$400 million at closing for stakes in two blocks offshore Luanda,
plus $100 million at a final investment decision, as well as "some
additional payments along the life of the project depending on
production and crude-oil price for a maximum cumulative amount
capped at $250 million."
Per the agreement, Total will hold a 50% working interest in
Block 20/11 and an 80% working interest in Block 21/09, and will
become operator of the two licenses before setting up an operator
company with Sonangol three years after start up, it said.
The wells drilled there so far have produced four discoveries,
and Total and its partners will create a development hub as well as
explore for additional potential resources, the company said.
Separately on Monday, Total said that a consortium of which it
is the operator has renewed all its production licenses in Angola
through 2045.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
December 16, 2019 11:41 ET (16:41 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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