According to some industry sources, Total SA is planning to sell some of its stakes in several Angolan oilfields, signing its divestments in the country.
The company is said to sell its 20% stake in Angola’s offshore Block 14 which includes the Tombua-Landana, Kuito fields as well as a cluster of fields that make the BBLT project. Total could raise about USD300 million from the sale.
The sale would be part of the company’s move to focus on its Angolan bigger and more benefiting oil and gas fields it still operates. Production in many of Angolan oilfields is generally more complex and expensive compared to other basins.
HSBC analysts predicted Total to sell roughly 200,000 bpd of output in the upcoming decade to fulfil its target of unchanging production until 2025.
