Offshore staff
JOHANNESBURG, South Africa — Etu Energias has completed an agreement with Galp that involves the indirect acquisition of minority interests in three blocks offshore Angola.
One is for a 5% stake in Block 32, 260 km from Luanda, in water depths ranging from 1,400 m to 2,000 m. Production started in 2018.
TotalEnergies operates in partnership with Sonangol, SINOPEC, Exxon Mobil and Galp Energia Overseas.
Etu Energias also gains a further 9% of Block 14, 100 km offshore Cabinda, which produced first oil in 1999. Cabinda Gulf Oil Co. (Chevron 31%) leads a partnership comprising Sonangol, Eni Angola Exploration, Etu Energias, via its affiliate in Block 14, and Galp.
Finally, the company gets a 4.5% foothold in Block 14K, operated by Chevron Overseas (Congo), alongside TotalEnergies Congo, Cabinda Gulf Oil Co., Azule Energy, Sonangol and Societé Nationale des Pétroles du Congo.
Financing for the deal came from a consortium led by the African Export-Import Bank (AFREXIM BANK), which included Shell Western Supply and Trading, Banco Angolano de Investimento and Banco de Fomento Angola.
06.21.2024
