TotalEnergies and Inpex have agreed to sell their Angola Block 14 B.V. subsidiary to the Angolan Company Somoil for an undisclosed price.
Angola Block 14 B.V., owned by TotalEnergies Holdings International B.V. (50.01%) and Inpex Angola Block 14 Ltd (49.99%) holds a 20% interest in block 14 in Angola and a 10% interest in block 14K.
The offshore blocks have been producing since 1999. Net production from Angola Block 14 B.V. was 9,000 barrels of oil equivalent per day in 2021.
"By divesting this interest in mature fields, TotalEnergies is implementing its strategy to high-grade its oil portfolio, focusing on assets with low costs and low emissions," said Henri-Max Ndong-Nzue, Senior Vice President Africa of TotalEnergies Exploration & Production.
"TotalEnergies remains the number one energy player in Angola, through its leading operating position in deep-offshore, its interest in Angola LNG and in a first solar power plant project, Quilemba Solar, located in the southwest of the country."
Through IAB14, INPEX owned 49.99 percent of the shares in Angola Block 14 B.V., an affiliate company of TotalEnergies, thereby indirectly owning a 9.99 percent participating interest in Offshore Angola Block 14 (the Block) in the Republic of Angola and 4.99 percent participating interest in Lianzi field in the Offshore zone distributed equally between the Republic of Angola and the Republic of the Congo where it had participated in the development and production of crude oil.
Chevron is the operator of both offshore blocks.