Statoil sells Angolan block interest to Columbian explorer

offshore-angola-QR9iudjz0-sxc.huStatoil operates Block 39 and retains a 30 per cent interest. (Image source: QR9iudjz0/sxc.hu)Norwegian oil and gas company Statoil has sold its 10 per cent stake in Angola’s Block 39 to Colombia’s Ecopetrol

Gareth Burns, senior V-P, strategy and business development at Statoil, said, “The sales were part of a continuing process of adjustment of Statoil’s portfolio in order to maximise the value of the assets. The transactions will allow Statoil to unlock capital ahead of an extensive drilling campaign in the Kwanza Basin.”

The transactions have been approved by the Angolan state oil company Sonangol and the Angolan Ministry of Petroleum, the company sources said.

Statoil operates Block 39 and retains a 30 per cent interest with the remaining 30 per cent interest held by Sonangol, 15 per cent interest each by Total and WRG. 

In 2013, Statoil’s equity production from Angola had totalled 200,000 bpd.

According to reports, Statoil also has shares in Blocks 4/05, 15, 15/06, 17 and 31 in the Congo Basin offshore Angola.

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