Ver Angola


Petronas enters block 20/11 after purchasing 40 percent stake from TotalEnergies

Petronas will enter block 20/11 (operated by TotalEnergies), after TotalEnergies has finalized the sale of a 40 percent stake in the oil block, located in the Kwanza Basin, whose transaction involved a value of around 400 million of dollars.


In a statement sent to VerAngola, the National Oil, Gas and Biofuels Agency (ANPG) informs about the completion of the sale. ANPG "makes public that TotalEnergies EP Angola has finalized the sale to Petronas Angola E&P LTD (PAEPL), a company that belongs to the Petronas business group, from Malaysia, of a 40 percent stake in block 20/11, in the Basin of Kwanza, in Angola", the note reads.

According to ANPG, the aforementioned deal involved "an amount in the order of 400,000,000 dollars."

The entry of Petronas changes the participatory framework, however, TotalEnergies remains the operator of the block. According to the statement, Total, "which held 80 percent of the participating interest, maintains its position as operator, now with 40 percent of the participating interest, PAEPL (40 percent) and Sonangol Pesquisa e Produção S.A. (20 percent)".

"The transaction was authorized by the guardianship, through Legislative Decree No. 205/23, of September 13, signed by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo", adds the note.

The closing of the operation was welcomed by Paulino Jerónimo, president of the Board of Directors (PCA) of ANPG. "We welcome the outcome of yet another negotiation process between operating companies that chose our market as a safe destination for their investments", he said, quoted in the statement.

"ANPG as a national concessionaire will continue to promote the appropriate environment to bring new investors to the country and to ensure the speed of processes to the satisfaction of all stakeholders in the Angolan oil sector", also assured the PCA of ANPG.

In turn, Nicolas Terraz, general director of Research and Production at TotalEnergies, took the opportunity to "welcome to Petronas".

"TotalEnergies welcomes Petronas, one of its strategic partners, to block 20/11 in the Kwanza Basin. With Sonangol and Petronas, we have established a solid partnership that will collectively allow us to make the final investment decision for the development of the Cameia and Golfinho fields, with the support of the Angolan authorities", he said, quoted in the statement.

According to the note, the aforementioned oil block "contains the Cameia and Golfinho oil discoveries", which are located approximately 150 kilometers southwest of Luanda and whose development will comprise "a system of submarine wells connected to a floating unit of the FPSO type with a production capacity of 70,000 barrels per day".


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