Angola: Britain’s Afren acquires stake in US company Devon Energy

15 November 2007

London, United Kingdom, 15 Nov – British company Afren has agreed to acquire the shareholdings of US company Devon Energy in Ghana and Angola, according to a statement published Tuesday on the company’s website.

In Ghana, Afren will ahve a 95 percent stake and operator status in the Keta bloc and in Angola it will have a stake of 15 percent in bloc 16, conditioned by the preferential right of Sociedade Nacional de Combustíveis de Angola (Sonangol).

Bloc 16 is located in the lower area of the Congo basin, covering an area of 4,936 square kilometres.

The operator of this bloc is Maersk (50 percent), and the main partners are Brazil’s Odebrecht (15 percent) and Sonangol (20 percent).

The situation and strikes at the bloc is similar to that of adjacent blocs – 15, 17, 31 and 32 – and, according to Afren, total reserves are estimated at around 1 billion barrels. (macauhub)