Ver Angola


Somoil enters deepwater oil production

Angolan oil company Somoil acquired all the shares in Block 14/14K, located offshore Angola, in the Congo basin, which has a 9 percent stake in Galp in the contractor group.

: Richard Davies
Richard Davies  

According to a statement from the national oil company, all shares in Block 14/14K were acquired from Total Energies and INPEX Angola Block 14 Ltd, through Somoil 14 BV, a transaction still subject to approval by the authorities.

Block 14 was the first deepwater block (350-1100 meters) to come on stream in Angola, in 1999, and "holds significant remaining reserves".

The contractor group includes the subsidiary of Chevron in Angola, Cabinda Gulf Oil Company Limited (CABGOC) with a 31 percent stake (operator), Sonangol P&P with 20 percent, AB14BV with 20 percent, Eni with 20 percent and Galp with 9 percent.

"This achievement represents a significant step for Somoil and for Angolan companies in the Oil and Gas sector. Somoil will be present in an important asset already in production, in deep waters with an excellent track record, which is part of our growth strategy ", said Edson R. Dos Santos, President of the Executive Committee of Somoil, quoted in the same statement.

Somoil is an Oil and Gas company, which currently operates the FS-FST Associations onshore and Block 2/05 in shallow waters, and is also a non-operating partner in Blocks 2/05, 3/05th, 4/ 05 and 17/06.

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