Luanda - The National Oil, Gas and Biofuels Agency (ANPG) confirmed Thursday the acquisition by Somoil of a 2.5% of participation in Block 17/06 of the PTT Exploration and Production (PTTEP) company, located offshore 150 kilometres off the Angolan coast.
Block 17/06 is operated by the contractor group led by TotalEnergies Block, with 30% of the participating interest, Sonangol P&P (30%), SSI (27.5%), Somoil Block 17/06 (5%), Falcon Oil (5%) and PTTEP (2.5%).
According to a note from the National Agency of Oil, Gas and Biofuels (ANPG) to which ANGOP had access, after the finalisation of the process, Somoil will have a 7.5% participation in Block 17/06.
To the chairman of Somoil board, Edson dos Santos, this acquisition represents another step for this biggest private national oil company, as it will boost its portfolio of diversified assets and will take part in the production of oil fields in deep waters.
On his turn, the chairman of the ANPG board of directors, Paulino Jerónimo, highlighted that the completion of this deal observed the formalities outlined in the law and in the contractual instruments, which required the national concessionaire and ministerial approval.
Somoil is the largest private oil and gas company. It is 100% Angolan owned company which currently operates the FS Association, 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.
