LA DEFENSE (dpa-AFX) - French oil and gas major TotalEnergies (TTE), said Monday that it has signed a deal to sell, jointly with its partner Inpex, Angola Block 14 B.V. to the Angolan energy company Somoil.
The financial terms of the transaction, which is subject to the approval of the Angolan authorities, were not disclosed.
'By divesting this interest in mature fields, TotalEnergies is implementing its strategy to high-grade its oil portfolio, focusing on assets with low costs and low emissions,' commented Henri-Max Ndong-Nzue, Senior Vice President Africa of TotalEnergies Exploration and Production.
TotalEnergies Holdings International B.V. owns 50.01 percent of Angola Block 14 B.V., while the remaining 49.99 percent is owned by Inpex Angola Block 14 Ltd.
The offshore blocks have been producing since 1999 with a production of 9,000 barrels of oil equivalent per day in 2021.
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