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Thursday, November 30, 2017
Soco International revealed that following the announcement from ENI that it was taking on the operatorship of the Cabinda North Block in Angola, Soco said its 80% owned subsidiary Soco Cabinda has agreed to increase its non-working interest in the block’s PSA.
Soco agreed to increase its non-operating working interest in the Cabinda North Block PSA from 17% to 22%.
The Cabinda North Block is located onshore the Angolan enclave of Cabinda. SOCO’s increased interest and the change of operatorship follows a reassignment of interests among the partners.
Final details and timing of the formal governmental Executive Decree to enact the change of operator and the reassignment of interests are expected shortly.
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