Italian oil major Eni SpA and France's Total SA were among the successful bidders for rights to develop three offshore blocks in Angola out of 10 auctioned late last year, the country's petroleum regulator said Jan. 16.
Eni and Total won operator rights to blocks 28 and 29 respectively in the offshore Namibe Basin, while Angola's state oil company Sonangol and majors Equinor ASA and BP Plc won smaller stakes, regulator ANPG said in a statement.
All of the blocks are frontier, meaning they do not currently produce oil or gas.
The bid round for the fields in the Namibe and Benguela basins closed in November.
ANPG did not award any stakes in the Benguela Basin, and some stakes in the other blocks are also still available. It did not give details on why they had not been awarded.
Sonangol won a 35% interest in block 27, but the remaining 65% interest is still on offer. Sonangol also won a 20% interest in block 28. Eni, the operator, won a 60% stake, with the remaining 20% remaining up for grabs.
Block 29 was fully awarded, with operator Total taking a 46% stake, Equinor winning 24.5%, Sonangol taking 20% and BP winning a 9.5% concession share.
Angola, Africa's second-biggest oil exporter, is working to reform its oil industry and broader economy to arrest a drop in production that has heaped pain on the economy.
It has also pushed through broad economic reforms, including a potential sale of stakes of Sonangol and other state-owned enterprises.
ANPG was formed last year to replace Sonangol as the body managing energy concessions.
Per-acre prices varied widely between $15 an acre and $11,353 an acre.
The Austin Chalk assessment, which includes the Tokio and Eutaw formations, is believed to also hold about 41.5 trillion cubic feet of natural gas, the report shows.
The wells were drilled by the Transocean Barents semisubmersible rig this summer in the Flemish Pass Basin.