By OGJ editors
HOUSTON, May 16 -- State-owned Sonangol has announced successful bidders for five blocks off Angola and reported high interest in two others.
It announced successful bids for shallow-water Blocks 1, 5, and 6, the relinquished portion of deepwater Block 15, and deepwater Block 26. Terms of participation are production-sharing.
Block 1 interests are Tullow Oil, operator, 50%; Sonangol P&P, 20% carried through exploration; ProdOil, 20%; and Force Petroleum, 10%. The awards are subject to clarification and agreement on terms and conditions.
For Block 5, Vaalco Energy is operator with a 40% interest. Other interests are InterOil E&P SA, 40%, and Sonangol, 20% carried.
Block 6 interests are Petrobras, operator, 40%; Sonangol 20% carried; InterOil 20%; and Falcon Oil and Initial Oil & Gas SA, 10% each.
Block 15 interests are ENI Angola, operator, 35%; Sonangol 15% carried; SSI 20%; Total E&P 15%; and Falcon Oil, Statoil ASA, and Petrobras, 5% each.
For Block 26, Petrobras is operator with an 80% interest, and Sonangol holds a 20% carried interest.
Sonangol said 18 international and domestic oil companies submitted proposals for participation in deepwater Blocks 17 and 18, bids for which had to include investment in the construction of a 200,000 b/d, high total-acid-number refinery at Lobito in Beguela Province.
The company on May 9 conducted a public opening of sealed tenders for the blocks, each of which drew a signature bonus of $1.1 billion. Angola's earlier record signature bonus was $902 million for the relinquished portion of Block 15.
Sonangol expects to complete evaluation of the Block 17 and 18 tenders in early June.
