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Angola: Total takes on Cobalt blocks
Total has signed a sale and purchase agreement with Sonangol worth at least $500m to acquire interests in Kwanza Basin blocks 20/11 and 21/09. The blocks were previously operated by Cobalt Energy International, which drilled the Cameia, Mavinga, Bicuar and Golfinho discoveries.Subject to approvals, Total will acquire a 50% working interest, alongside Sonangol (20%) and BP (30%), in Block 20/11, in water depths ranging from 300 to 1,700 metres, and an 80% working interest alongside Sonangol (20%) in Block 21/09, in water depths ranging from 1,600 to 1,800 metres.
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