Africa-Press – Angola. The National Agency of Petroleum, Gas and Biofuels (ANPG) confirmed, this Thursday, the acquisition by Somoil of a 2.5% stake in Block 17/06 of the company PTT Exploration and Production (PTTEP), located in offshore 150 kilometers off the Angolan coast.
Block 17/06 is operated by the contractor group led by TotalEnergies Block, with a 30% participating interest, Sonangol P&P (30%), SSI (27.5%), Somoil Block 17/06 (5%), Falcon Oil ( 5%) and PTTEP (2.5%).
Somoil, once the process is completed, will have a 7.5% stake in Block 17/06, according to a note from the National Agency of Petroleum, Gas and Biofuels.
For the Chairman of the Board of Directors of Somoil, Edson dos Santos, this acquisition represents another step for this largest private oil company in Portugal, as it will reinforce its diversified portfolio of assets and participate in the production of oil fields in deep waters.
Quoted in the note ,Paulino Jerónimo , chairman of the Board of Directors of ANPG, emphasizes that the completion of this operation is subject to the formalities provided for in the law and in the contractual instruments of the concession, which require the consent of the National Concessionaire and ministerial approval.
Somoil is the largest 100% Angolan private oil and gas company. It currently operates Associação FS, FST and Block CON-1 (all onshore), as well as Block 2/05, offshore in the Lower Congo Basin.
It is also a partner in Blocks 3/05, 3/05-A, 4/05, 17/06 and CON-6.
Somoil has recently changed its vision and is now focused on becoming an integrated energy company.
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