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    UK's Afentra eyes stake in Angolan offshore blocks

Summary

It has submitted a non-binding expression of interest to state-owned Sonangol to purchase interests in Block 3/05 and Block 23.

by: Shardul Sharma

Posted in:

Complimentary, Natural Gas & LNG News, Africa, Security of Supply, Corporate, Exploration & Production, News By Country, Angola

UK's Afentra eyes stake in Angolan offshore blocks

AIM-listed Afentra has submitted a non-binding expression of interest to state-owned Sonangol to purchase interests in Block 3/05 and Block 23 in Angola, it said on October 8.

The company said the move is in line with its strategy of acquiring assets across West Africa. “At this stage, there can be no certainty that this application will proceed beyond the company's non-binding expression of interest and there is no guarantee that any bid made will be accepted,” Afentra said.

Block 3/05 and Block 23 are two of the eight offshore blocks in which Sonangol is looking to sell partial stakes as part of the government's plan to streamline the ailing company. The state-owned company is looking to sell part of its interests in blocks 3/05, 4/05, 5/06, 15/06, as well as in blocks 18, 23, 27 and 31.