French oil company Total E&P Angola is the operator of Block 29, located in deep waters, with an area of 5,700 square kilometers, in the Namibe Basin.
The Angolan concessionaire announced this Monday that an agreement was signed with Angola's National Oil, Gas and Biofuels Agency (ANPG), on July 30th, in the form of a Block 29 Production Sharing Contract, effective from the 2nd of this month.
Under the terms of this contract, Total E&P Angola is the operator of the aforementioned oil block, with a 42.8% stake. Equinor (22.8%), BP (8.8%), Petronas (5 .6%) and Sonangol P&P (20%).
Block 29, is situated in deep waters, with an area of 5,700 square kilometers, located in the Namibe Basin, about 75 kilometers off the Angolan coast, with a water depth between 1,500 and 2,500 meters.
Continue reading "Total Oil Angola signs new production sharing contract for Namibe block"
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