QatarEnergy, Shell and Sonangol have signed an agreement with Angola’s National Agency for Oil, Gas and Biofuels (ANPG) covering offshore Blocks 8 and 22.
Under the proposed arrangement, Shell will operate both blocks with a 50 per cent working interest, while QatarEnergy will hold 30 per cent and Sonangol the remaining 20 per cent, subject to government approvals and final contractual arrangements.
Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and Chief Executive Officer of QatarEnergy, said the agreement would establish the company’s presence in Angola’s energy sector as part of its international upstream exploration strategy.
The deal adds to recent upstream activity in Angola.
TotalEnergies Chief Executive Patrick Pouyanné said on Wednesday that the French energy company and its partners planned to invest $10 billion in Angola over the next five years across several projects.
Separately, ANPG, ExxonMobil and their partners in offshore Block 15 announced an oil discovery at the Vicango Este-01 exploration well.
Block 15 is a deepwater area that has been one of Angola’s major oil-producing blocks.
