Angola M&A | PETRONAS gets a piece of the Kwanza Basin from TotalEnergies
October 2, 2023
On 27th September 2023, TotalEnergies announced during its 2023 Strategy and Outlook Day that it had agreed to sell 40% of its interests in Blocks 20/21, offshore Angola to PETRONAS for a consideration of US$400 million.
The blocks hold the undeveloped Cameia and Golfinho pre-salt fields, where FID is planned before the end of 2023. With the entry of PETRONAS, the partnership across the blocks is TotalEnergies (40%, operator), PETRONAS (40%) and Sonangol (20%).