Total to Expand Oil and Gas Activities in Angola
04 Décembre 2017 - 7:03PM
Dow Jones News
By Marc Navarro Gonzalez
Total SA (FP.FR) said on Monday that it has signed several
agreements with Angola's national oil company Sonangol, covering
oil-and-gas exploration, production, refining and processing
activities in the country.
Following the agreements, Total and Sonangol will jointly
restart deep offshore exploration in Angola, the French energy
company said. The first phase of this program will last two years,
and will consist of the drilling of an exploration well.
Total said both companies have also signed a memorandum of
understanding to seek opportunities for renewable-energy supply in
Angola, as well as for the development of a network to distribute
oil products in the country.
The agreements were signed in a meeting between Total's Chief
Executive Patrick Pouyanne, Angola's recently-elected President,
Joao Lourenco, and Sonangol's Chairman, Carlos Saturnino.
No financial details were disclosed.
"As Angola's main oil partner, we are pleased with the strong
willingness expressed by the country's new authorities to drive an
investment dynamic in the oil-and-gas sector, essential to the
country's economy, after three years impacted by the sharp drop in
prices," said Mr. Pouyanne.
Write to Marc Navarro Gonzalez at
marc.navarrogonzalez@dowjones.com
(END) Dow Jones Newswires
December 04, 2017 12:48 ET (17:48 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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