Angola: Total pulls out of 15/06

Total has pulled out of the Eni-operated offshore Block 15/06, selling its 15% stake to Sonangol E&P for $750m. “The sale of our interest in Block 15/06 is in line with Total’s global strategy to actively manage its portfolio and focus its investment capability on core assets in which it has more material interests, such as Block 17 with the CLOV project currently under development and the future development of Kaombo on Block 32 in Angola,” said senior vice-president Africa Total Exploration and Production Jacques Marraud des Grottes.