Sonangol puts stake in two offshore oil blocks for sale

State oil company Sonangol wants to sell part of the rights by August which it owns in two oil production blocks in the exploration phase offshore Angola, operated by Cobalt, with which it maintained a millionaire dispute several months ago.

According to information sent to the Lusa agency, in Luanda, by National Fuel Society of Angola (Sonangol), the oil company states that it "intends to transfer part" of the interests it keeps in these two blocks.

At stake are blocks 20/11, in which Sonangol participates (30 per percent), by BP (30 percent) and operated by Cobalt (40 percent), and 21/09, owned by Sonangol (60 percent) and operated by Cobalt (40 percent), both in deep water and that have not yet entered production phase.

Sonangol states that, for this purpose, sessions will be held with potential investors – national and international oil companies – to from the 24th of April, a process that will take place until the 29th of June, taking place in parallel in Luanda and in Houston, United States of America, "for the purpose of sharing technical, legal and contractual agreement, relative to the blocks".

The sale process, according to Sonangol, ends on July 31, 2018.

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