Ver Angola


Argentine oil company Pluspetrol hands over stake in Cabinda block to Acrep

The Argentinean oil company Pluspetrol will transfer its shares in the Cabinda Sul block to the Angolan Acrep, which will become the operator of this block explored jointly with the state-owned Sonangol.


According to a decree published in Diário da República, Pluspetrol transfers to Acrep all of its participating interest (68.75 percent) in the production sharing contract for the Cabinda Sul block, taking into account that the national concessionaire and Sonangol did not want to exercise your preemptive right.

The contractor group now comprises Acrep (68.75 percent) and Sonangol (31.25 percent).

According to the weekly Expansão, Acrep is currently the third largest Angolan operator operating oil blocks in the country, after the state-owned Sonangol Pesquisa e Produção (P&P) and Etu Energias (formerly Somoil) and is preparing to go public in October.

The website of the company Acrep Exploração Petrolífera indicates that the largest shareholder is Mon Laramas Servisses with 30 percent, while the former Deputy Minister of Energy, who also worked for Sonangol, and currently leads Acrep, Carlos Amaral, holds another 10 percent.

The remaining shareholders are Banco de Poupança e Crédito (BPC), with 10 percent and Fénix-Sociedade Gestora de Fundo de Pensões, with 5 percent, with the remaining 45 percent belonging to Acrep itself.

Pluspetrol is a multinational with presence in Angola, Argentina, Bolivia, Colombia, Ecuador, United States of America, Netherlands, Peru and Uruguay.


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