Total Divests 15% Of Block 15/06


News: French energy company Total has divested its 15% participating interest in Block 15/06, offshore Angola to state-owned oil company Sonangol E&P for US$750mn. However, the divestment is subject to customary approvals. The divestment is part of the company's strategy to actively manage its portfolio and focus its investment capability on core assets in which it has more material interests, according to Senior Vice President Jacques Marraud des Grottes. The block is in water depths ranging from 220-1,700 metres and covers around 2,984sq km.

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Related sectors of this article: Oil & Gas, Deepwater
Geography: Angola