Angola: TotalEnergies sells half of its shares for $400 million

The French oil company TotalEnergies has sold part of the interests it holds in block 20, an offshore perimeter located in the Kwanza basin in Angola, to the local subsidiary of the Malaysian company Petronas. Petronas thus offered itself a direct 40% stake in the site, in exchange for $400 million. TotalEnergies has until now operated 80% of the exploitation rights of block 20, the remaining 20% being held by Sonangol, Angola’s public oil company.

Source: Africa News Agency