Subject to approval from the Angolan authorities, TotalEnergies and Inpex will sell the Angola Block 14 B.V. company to Angola’s largest private oil company, Somoil. Jointly owned by TotalEnergies Holdings International B.V. (50.01%) and Inpex Angola Block 14 Ltd (49.99%), the Angola Block 14 B.V. company holds non-operated interests in Block 14 (20%) and Block 14K (10%) in Angola.

Located in the offshore Kuito and Lianzi oil fields, both Block 14 and Block 14K have been producing oil since 1999, with net production from Block 14 reaching 9,000 barrels of oil equivalent per day in 2021. By purchasing the company, Somoil will now have access to both of these fields.

“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,” stated Henri-Max Ndong-Nzue, Senior Vice President Africa for TotalEnergies Exploration and Production.

TotalEnergies represents the largest producer in Angola, averaging 212,000 barrels per day in 2020. Despite the sale, and due to its operations in the highly prolific Block 17, Ndong-Nzue emphasized that “TotalEnergies [will] remain the number one energy player in Angola.”