Statoil has decided to divest equity in blocks 38 and 39 in the Kwanza basin offshore Angola. Statoil has sold 10% to Ecopetrol in blocks 38 and 39. In block 39 the 10% divestment is accomplished through two separate, but simultaneous transactions. Statoil acquired 7.5% from Total under one agreement. Statoil then divested a total of 10% in block 39 through a separate agreement, reducing its net equity by 2.5%. The deals are subject to approval by Sonangol E&P, the Angolan minister of petroleum and the licence partners. After completion of all transactions, the equities will be: Statoil (Operator – 37.5%), Total (7.5%), WRG (15%), Ecopetrol (10%), Sonangol P&P (30%) for Block 39 and Statoil (Operator – 45%), WRG (15%), Ecopetrol (10%), Sonangol P&P (30%) for Block 38.
In addition to the Statoil-operated blocks 38 and 39, Statoil is partnering in blocks 22, 25 and 40 in the Kwanza basin. The exploration blocks were awarded by Sonangol in December 2011. Statoil’s equity production from Angola equalled approximately 200,000 bbl/d of oil in 2013.