Shell, QatarEnergy, and Sonangol E&P signed Heads of Terms regarding the Risk Service Contracts for Blocks 8 and 22 offshore Angola, with Angola’s National Agency for Oil, Gas and Biofuels (ANPG). 

The move is a step in evaluating offshore potential and building on Angola’s established role in Africa’s energy sector, Shell said in a release Sept. 9.

Alioune Sourang, country chair of Shell Angola, said the signing is "another positive step in Shell’s renewed engagement with Angola," and that it "builds on the momentum from exploration block entries with Chevron, Equinor, and Sonangol P&P." 

Under the agreement, Shell will be operator with 50% interest, QatarEnergy will hold 30% working interest, and Sonangol will hold 20% in the two offshore blocks. Shell’s participation in the Heads of Terms is through BG International Ltd. – Sucursal em Angola, a Shell company.

The agreement was signed in the Angolan capital Luanda on the sidelines of the Angola Oil & Gas Conference. It is subject to the relevant governmental approvals and final contractual arrangements.