for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Angola awards licenses in 3 of 10 "frontier" blocks auctioned

LAGOS, Jan 16 (Reuters) - Angola has awarded rights to three offshore blocks, out of a total of 10 auctioned late last year, the country’s petroleum regulator said on Thursday.

Italian oil major Eni and France’s Total won operator rights to blocks 28 and 29, respectively, in the offshore Namibe basin, while Angola’s state oil company Sonangol and majors Equinor and BP won smaller stakes, regulator ANGP said in a statement.

All of the blocks are “frontier,” meaning they do not currently produce oil or gas. (Reporting by Libby George; Editing by Susan Fenton)

Breakingviews

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.


Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up