Sonangol sells stake held in eight blocks

Luanda - Sonangol has sold its participating interests in eight oil blocks in production and exploration to Somoil, Sirus, Afentra and Namcor, Sequa and Petrolog, as part of the public tender for partial sale. 

 According to a statement sent to ANGOP, Sonangol, after evaluating the proposals submitted by a total of 10 companies, selected Afentra for Block 3/05, which held 20 percent, Namcor, Sequa and Petrolog for Block 15/06, with 10 percent, and Somoil and Sirus for Block 18, with 8.5 percent, all blocks in production. 

In Block 31, which is in production, Somoil and Sirus again joined forces to buy Sonangol's 10% participating interest. 

For the blocks in exploration, Namcor, Sequa and Petrolog also formed a joint venture as operator for Block 23, holding 40% and Afentra 40%. 

In the same model of "Joint Venture", appear the interested parties of Block 27, Namcor, Sequa and Petrolog buying 35% and the other 25% were acquired by Somoil and Sirius. 

"The transmission act culminated with the establishment of those whose values were closest to those established in the sale conditions defined by Sonangol,"reads the note.