TotalEnergies and Inpex will sell the Angola Block 14 B.V. company to Somoil, Angola’s largest private oil company, pending approval from the Angolan authorities. The Angola Block 14 B.V. corporation, which is held equally by TotalEnergies Holdings International B.V. (50.01%) and Inpex Angola Block 14 Ltd (49.99%), holds non-operated interests in Block 14 (20%) and Block 14K (10%) in Angola.

Both Block 14 and Block 14K, which are located in the offshore Kuito and Lianzi oil fields, have been producing oil since 1999, with Block 14’s net production hitting 9,000 barrels of oil equivalent per day in 2021. Somoil will now have access to both of these fields after purchasing the company.

The Senior Vice President Africa for TotalEnergies Exploration and Production, Henri-Max Ndong-Nzue, said: “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.”

“TotalEnergies [will] remain the number one energy player in Angola,” Ndong-Nzue emphasised