Somoil Acquires Stake in Block 17/06, Offshore Angola

Africa. Energy.

Situated 150km off Angola’s coast, in the Lower Congo Basin, and situated in water depths of 600-1,400m, Block 17/06 comprises the Girassol-Rosa, Dalia, Pazflor, and CLOV operating fields, boasting a production rate of approximately three billion barrels of oil since its discovery through four floating production storage and offloading units.

The move comes following PTTEP’s announcement of its intention to divest approximately $29 billion worth of assets in a move to boost national energy security in Thailand and combat climate change.

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Energy Capital & Power

Energy Capital & Power is the African continent’s leading investment platform for the energy sector. Through a series of events, online content and investment reports, we unite the entire energy value chain – from oil and gas exploration to renewable power – and facilitate global and intra-African investment and collaboration.
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