(Adds details)
PARIS, Dec 16 (Reuters) - Total said on Monday it
had acquired interests in two new offshore licenses in Angola
with a view to developing a new production hub alongside the
French oil major's partners.
Wells drilled so far in the two blocks have produced four
discoveries, Total said. It will pay Angolan state oil firm
Sonangol $400 million when the deal closes, to which $100
million will be added when a final investment decision is made,
along with additional payments during the life of the project.
Total said it will be the operator of the two licenses
before putting in place an operating company together with
Sonangol three years after the production start-up.
It will have a 50% working interest, alongside Sonangol's
20% and BP's 30% in Block 20/11, in the central Kwanza
Basin offshore Luanda. It will hold an 80% stake, while Sonangol
will hold 20% in Block 21/09 in the south-central Kwanza Basin.
Total also said it had extended all block 17 production
licenses in Angola until 2045.
(Reporting by Bate Felix, editing by Gus Trompiz and Alexander
Smith)
BP (BP.)
