Maersk Oil will acquire an additional 15% interest in block 16 in Angola from Devon Energy for an initial payment of $70m, subject to regulatory approval.

The acquisition increases Maersk Oil’s interest in the block to 65%, with its partners Sonangol holding a 20% stake and Odebrecht the remaining 15%.

Maersk Oil head of exploration Lars Nydahl Jorgensen said acquiring Devon Energy’s interest in the block will boost the firm’s prospects in Angola, just as the evaluation work on the Chissonga discovery gathers pace.

Maersk Oil also has a 50% interest in blocks 8 and 23 in Angola.