UK oil firm acquires 15 pct stake in Angola’s block 24

11 January 2006

Luanda, Angola, 11 Jan – British firm Tullow Oil has concluded an agreement with Ocean Angola, a Devon Energy subsidiary, to acquire a 15 percent stake in offshore block 24, it was announced Wednesday.

Tullow now holds an equal share in block 24, in the Southern Kwanza Basin, to Petronas of Malaysia. The block is operated by Esso with a 50 percent stake in partnership with Sonangol, 20 percent. (macauhub)