TotalEnergies announced that it has signed an agreement along with Inpex to sell its interest in Block 14 B.V. to the Angolan Company Somoil.

The company elaborated that the transaction is pending the approval of the Angolan authorities.

Angola Block 14 B.V., which is owned by TotalEnergies Holdings International B.V and Inpex, holds a 20% interest in block 14 in Angola and a 10% interest in block 14K.

In this regard, Henri-Max Ndong-Nzue, Senior Vice President Africa of TotalEnergies Exploration & Production said “By divesting this interest in mature fields, TotalEnergies is implementing its strategy to high-grade its oil portfolio, focusing on assets with low costs and low emissions. TotalEnergies remains the number one energy player in Angola, through its leading operating position in deep-offshore, its interest in Angola LNG and in a first solar power plant project, Quilemba Solar, located in the southwest of the country.”