Luanda – National Agency for Oil, Gas and Biofuels (ANPG) and Total E&P Angola have signed a Production Sharing Contract for Block 29, located in the Namibe Basin, an agreement made effective since 02 August.

The agreement between the national concessionaire and Total was initialled on 30 July of this year, according to a statement delivered Monday to Angop.

Under the terms of the contract, Total E&P Angola is the Operator of Block 29, with a 42.8 percent stake.

Equinor comes next with a 22.8 percent stake, BP with 8.8 percent, Petronas with 5.6 percent and Sonangol P&P with 20 percent are the remaining companies that make up the Contractor Group.

Block 29, located in deep waters, with a surface area of 5 700 kmĀ², is situated in the Namibe basin, about 75 kilometres off the Angolan coast, with a water depth of between 1 500 and 2 500 metres.

The Operator is committed to carrying out the work programme that has already been defined and approved and which aims to identify potential resources in this new borderĀ  basin in Angola’s offshore region.

For ANPG, cited in the note, this is yet another historic milestone for the Angolan oil sector and for the constructive and open dialogue that has always been established between the national concessionaire and the operators working in Angola.




Source: Angola Press News Agency

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