Total concludes sale of stakes in Angolan oil interests to state company Sonangol

11 May 2007

Paris, France, 11 May – French oil company Total said Thursday in Paris it had concluded the sale of a 27.5 percent stake in bloc 2/85 and 55.6 percent of oil company Fina Petróleos de Angola (FPA) to state oil company Sonangol.

The assets of FPA include the Luanda refinery, with a capacity of 2.6 million tons per year, and two inland concessions close to Soyo in the Congo basin (49 percent of bloc FS and 32.67 percent of bloc FST).

Total’s respective production at blocs 2/85 and FS and FST was, in 2006, of 6,500 barrels per day.

In the same statement, Totals aid that it had taken on a stake of 30 percent, as operator, of bloc 17/06, together with Sonangol (30 percent), SSI Seventeen (27.5 percent), Falcon Oil (5 percent), ACR (5 percent) and Partex (2.5 percent).

Total also entered bloc 15/06, together with ENI (operator with 35 percent), Sonangol (15 percent), SSI Fifteen (20 percent), Falcon Oil (5 percent), Statoil (5 percent) and Petrobras (5 percent).

Bloc 17/06 covers approximately 3,100 square kilometers at depths of between 600 and 1,900 meters and bloc 15/06 covers 4,200 square kilometers with depths of between 400 and 1,500 meters, both of which are in the Congo basin. (macauhub)