Angolan oil concession deals published in official gazette

19 June 2014

The sales of two stakes in oil companies with concession in Angolan oil blocks were published this month in Angola’s Diário da República (Official Gazette).

The first missive published, signed off by the Oil Minister, José Maria Botelho de Vasconcelos, was for the sale of a 5 percent stake owned by Norwegian company Statoil in block 15/06, which was acquired by Angolan concessionaire Sonangol, which exercised its “preferential right.”

The board of Statoil announced in May that the deal had a value of around US$200 million.

The executive decree stipulates that after the Norwegian company sells its stake the block will be shared between its operator ENI (35 percent), Sonangol Pesquisa e Produção (35 percent), SSI (25 percent) and Falcon Oil (5 percent).

Another decree, also signed off by the oil minister, authorises state company Sonangol to sell 10 percent of a total 50 percent it owned in block 4/05, on the north of the country, to Angolan company Prodoil.

After the sale the block will be shared between its operator Sonangol Pesquisa e Produção (40 percent), Statoil (20 percent), Somoil (15 percent), Acrep (15 percent) and Prodoil (10 percent). (macauhub/AO)