Total Angola transfers oil operations to Sonangol P&P

17 January 2011

Luanda, Angola, 17 Jan – Total E&P Angola on 31 December, 2010, transferred several operations in Angolan oil Block 3/85, as well as its tasks as operator to Sonangol P&P, following a deal signed on 23 December last, Totals aid in Luanda Friday.

The transfer was carried out due to the end of the 20-year production license included in the production sharing contract the statement from the French group’s subsidiary said, adding that the block has two oil fields, the licenses for which expire in 2011.

The statement also said that the license on one of the fields (the Cobo field) expires soon, Whilst the one on the Pambi field only runs out on 30 June, which is why Total and the contractor group will continue to hold interests in Block 3/85 until the license ends.

In relation to Block 3/91, which includes the Oombo field, tech production license for which expires in December,2 012, current operators Total and the contractor group will both continue to own interests, the company’s board said.

The statement noted, meanwhile, that the contractor group that owns stakes in Blocks 3/85 and 3/91 is made up of Total E&P Angola (Operator), Sonangol P&P, ENI Angola, Svenska, Nis-Naftagas, Ina-Naftaplin and Mitsubishi Corporation Exploration subsidiaries: AJEX (partner in Block 3/85) and AJOCO 91 (in Block 3/91). (macauhub)