The National Oil, Gas and Biofuels Agency (ANPG) confirms the acquisition, by Somoil, of 2.5% of Block 17/06 from the company PTT Exploration and Production (PTTEP), located offshore, 150 kilometers from the Angolan coast.
This Block is operated by the contractor group led by TotalEnergies Block 17/06 as operator with 30% interest, Sonangol P&P (30%), Somoil Bloco 17/06 (5%), Falcon Oil (5%) and PTTEP (2.5%). Recently, the investment in the Begonia field was approved, which will be connected to the Pazflor FPSO already in operation in Block 17, also operated by TotalEnergies
Paulino Jerónimo, Chairman of the Board of Directors of ANPG, pointed out that this operation is subject to 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.
Upon completion of this process, Somoil will have a 7.5% stake in Block 17/06. “This acquisition represents one more step for Somoil in its strategy to achieve a diversified asset portfolio and participate in deepwater oil fields,” said Edson Dos Santos, Somoil’ Chairman of the Board of Directors.
Somoil is the largest private, 100% Angolan Oil & Gas Company. It currently operates FS, FST Association, and Block CON-1 (all onshore), as well as Block 2/05 offshore Lower Congo Basin. It is also a partner in Blocks 3/05, 3/05-A, 4/05, 17/06 and CON-6. Somoil recently changed its vision and is now focused into becoming the Premier Integrated Energy Company– A Symbol of a global Angola.