Eni and Sonangol has signed production-sharing contracts (PSCs) for Blocks 27 and 28 with the Angolan regulator.
Angola’s Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) announced the signing of the contracts. The areas are in the Namibe Basin. The contracts are effective as of July 1, ANPG reported.
Sonangol Pesquisa & Produção signed up for Block 27.
The same company has a 20% stake in Block 28, which is to the south of Block 27.
Eni operates Block 28 with a 60% stake, while Tiptop Energy has 20%. This area is in water depths of between 1,000 and 2,500 metres.
The Italian company announced it had won the block in January 2020.
ANPG said Sonangol aimed to be more competitive and profitable through its participation in the two blocks. The regulator went on to say Sonangol intended to become an operator with “global reach” and to continue identifying resources.
Sonangol is also working on Angola’s energy and electrification policy, the regulator said, through exploration for gas.
ANPG noted Eni’s holdings in five blocks in Angola. Most importantly, it has Block 15/06, where two production hubs are sited – and with another on the way on the Agogo field.
Eni also has stakes in Block 1/14 and the Cabinda Norte and Cabinda Centro blocks. It produces around 120,000 barrels of oil equivalent per day in Angola.
Sinopec International Petroleum Exploration and Production Corp. owns Tiptop Energy. When Eni said it had won Block 28 in early 2020, it reported the final 20% would be awarded to a company that had not been decided at that point.