Total to Sell Block 15/06 Stake to Sonangol

Wednesday, May 29, 2013

French firm Total, as part of its asset disposal program, is selling off a stake in an Angolan block to Angola’s state-run firm Sonangol. Total will sell a 15% holding in Block 15-06, operated by ENI.

The block is home to a number of discoveries, the latest of which was the Vandumbu 1 well in March.

The French firm’s asset disposal program has it selling off $15-$20 billion between 2012 and 2014. In Q1 the company sold off a 10% stake in Angola’s Block 14 to Japan’s Inpex Corp.

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