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Angola: Government Authorises Sonangol to Cancel Participation in Block 32/85
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Angola Press Agency (Luanda)
4 May 2008
Posted to the web 5 May 2008
Luanda
Government authorises Sonangol to cancel its partial share of oil block 32/85 production
Angolan Government has authorised the State-owned oil firm, Sonangol, to cancel its partial share of oil block 32/85 production.
The information is printed on the State Gazette of March 19 that reached Angop on Friday.
According to the source, the Angolan oil society, Somoil, holds 9,3 percent, Poliedro-Oil Corporation 9,1 and Kotoil also 9,1.
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As from the date of the said cancellation accord, the shares of each of the parties comprising the group involved in the mentioned oil block will be as follows: 27,5 percent for Braspetro, 25 for Sonangol, 20 for Chevron, 9,3 for Somoil, and 9,1 Poliedro and Kotoil each.
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