Total is set to sell its 15% participating interest in the Angola offshore block 15/06 for $750m to Sonangol.

Located approximately 350km north-west of Luanda in deep offshore Angola, the block 15/06 covers around 2,984km², with a water depth ranging from 220m to 1,700m.

At present, the north-western hub of the block is under construction and is expected to produce in 2015.

A final investment decision for a north-east project is set to be taken in 2014.

"At present, the north-western hub of the block is under construction and is expected to produce in 2015."

Total exploration and production senior vice-president Africa Jacques Marraud des Grottes said: "The sale of our interest in block 15/06 is in line with Total’s global strategy to actively manage its portfolio and focus its investment capability on core assets in which it has more material interests, such as block 17 with the CLOV project currently under development and the future development of Kaombo on block 32 in Angola."

The block is operated by Eni (35% share), while other partners include Total (15%), Sonangol (15%), SSI (25%), Statoil (5%) and Falcon Oil Angola Investimentos (5%).

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Total operates its main asset block 17 in Angola with a 40% interest.

The block comprises four major hubs that are currently in production including Girassol-Rosa, Dalia and Pazflor, and CLOV pooling the discoveries of Cravo, Lirio, Orquidea and Violeta.

Launched in 2010, CLOV’s development is expected to start-up in 2014.

Total also operates block 32, in which it holds a 30% stake, and the block’s potential for oil production has been confirmed by twelve discoveries.