{"id":13225,"date":"2023-02-14T13:23:49","date_gmt":"2023-02-14T13:23:49","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=13225"},"modified":"2023-02-14T13:23:49","modified_gmt":"2023-02-14T13:23:49","slug":"angola-galp-signs-agreement-with-somoil-for-the-sale-of-assets","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/angola-galp-signs-agreement-with-somoil-for-the-sale-of-assets\/","title":{"rendered":"ANGOLA: Galp Signs Agreement with SOMOIL for the Sale of Assets"},"content":{"rendered":"\r\n<p class=\"wp-block-paragraph\">Galp has signed an agreement with SOMOIL &#8211; Sociedade Petrol\u00edfera Angolana S.A. for the sale of its upstream assets in Angola.<br \/><br \/>Proceeds are expected to reach c.$830 m, already net of capital gain taxes, including c.$655 m to be received until completion and $175 m in contingent payments due in 2024 and 2025 dependent on Brent price.<br \/><br \/>The transaction is subject to customary terms and conditions, with completion expected during the second half of 2023.<br \/><br \/>\u201cThis transaction allows Galp to crystalize value from mature upstream assets and supports the high-grading of our upstream portfolio and our decarbonisation strategy. We are confident that Somoil, already present in Block 14, will be a strong contributor to the development of these longstanding Galp assets.\u201d<br \/><br \/>Filipe Silva, Galp CEO<br \/><br \/>BofA Securities acted as financial adviser to Galp. <br \/><br \/>Assets and stakes included in the transaction<br \/><br \/>Block 14 (9% Galp): Tombua; Landana; BBLT \u2013 Benguela, Belize, Lobito, Tomboco; Kuito; Block 14K (4.5% Galp): Lianzi; Block 32 (5% Galp): Kaombo (operating); CNE (under development)<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Galp has signed an agreement with SOMOIL &#8211; Sociedade Petrol\u00edfera Angolana S.A. for the sale of its upstream assets in Angola. Proceeds are expected to reach c.$830 m, already net &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/angola-galp-signs-agreement-with-somoil-for-the-sale-of-assets\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":13262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7445,11],"tags":[160,6938,11033,9625],"class_list":["post-13225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-southern-africa","category-top-news","tag-angola","tag-galp","tag-sociedade-petrolifera-angolana","tag-somoil","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/02\/ANGOLA-GALP-1.jpg?fit=750%2C357&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3rj","jetpack-related-posts":[{"id":13006,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-pttep-to-sell-block-17-06-project-in-angola-to-somoil\/","url_meta":{"origin":13225,"position":0},"title":"ANGOLA:  PTTEP to sell Block 17\/06 Project to SOMOIL","author":"","date":"December 21, 2022","format":false,"excerpt":"PTTEP has entered into a Sale and Purchase Agreement (SPA) to sell its entire 2.5% participation interest in the Block 17\/06 Project in Angola to\u00a0SOMOIL. Completion of the sale is expected by mid-2023 subject to the conditions prescribed in the SPA. The Block 17\/06 Project is an offshore oil field\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/05\/angola-block-17.jpg?fit=750%2C500&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/05\/angola-block-17.jpg?fit=750%2C500&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/05\/angola-block-17.jpg?fit=750%2C500&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/05\/angola-block-17.jpg?fit=750%2C500&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12209,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-sirius-somoil-sign-spa-with-sonangol-to-acquire-offshore-blocks-18-31-and-27\/","url_meta":{"origin":13225,"position":1},"title":"ANGOLA: Sirius, Somoil Sign SPA with Sonangol to acquire offshore Blocks 18, 31 and 27","author":"","date":"May 5, 2022","format":false,"excerpt":"Sirius and its local JV partner, Somoil S.A have announced that\u00a0the joint Sirius-Somoil\u00a0consortium, has signed a legally binding Sale and Purchase Agreement (SPA) with Sonangol Pesquisa e Produ\u00e7\u00e3o S.A.\u00a0to acquire participating interests of 8.28% and 10% respectively in the producing Angolan offshore Blocks 18 and 31 and a\u00a025%\u00a0participating interest in\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":11625,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-totalenergies-sells-its-non-operated-interest-in-block-14\/","url_meta":{"origin":13225,"position":2},"title":"ANGOLA: TotalEnergies sells its non-operated interest in block 14","author":"","date":"January 17, 2022","format":false,"excerpt":"TotalEnergies has signed an agreement to sell, jointly with Inpex, the company Angola Block 14 B.V. to the Angolan Company Somoil. The transaction is subject to the approval of the Angolan authorities. Angola Block 14 B.V., owned by TotalEnergies Holdings International B.V. (50.01%) and Inpex Angola Block 14 Ltd (49.99%)\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Angola-block-14.jpeg?fit=366%2C500&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":15417,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-totalenergies-concludes-agreement-with-galp-to-enter-as-operator-in-the-prolific-pel-83-license\/","url_meta":{"origin":13225,"position":3},"title":"Namibia: TotalEnergies concludes agreement with Galp to enter as operator in the prolific PEL 83 license","author":"","date":"December 13, 2025","format":false,"excerpt":"TotalEnergies and Galp agreed to launch an exploration and appraisal campaign including three wells over the next two years, with a first well planned in\u00a02026, to further derisk resources and progress diligently toward the development of the Mopane discovery. Concurrently, TotalEnergies, operator of PEL56, remains fully committed to the development\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/12\/totalenergies_namibie-pel83-map_2025.jpg?fit=1110%2C1110&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/12\/totalenergies_namibie-pel83-map_2025.jpg?fit=1110%2C1110&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/12\/totalenergies_namibie-pel83-map_2025.jpg?fit=1110%2C1110&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/12\/totalenergies_namibie-pel83-map_2025.jpg?fit=1110%2C1110&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/12\/totalenergies_namibie-pel83-map_2025.jpg?fit=1110%2C1110&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":10909,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-anpg-announces-the-2020-bidding-blocks-winners\/","url_meta":{"origin":13225,"position":4},"title":"ANGOLA: ANPG Announces the 2020 Bidding Blocks Winners","author":"","date":"September 27, 2021","format":false,"excerpt":"The National Agency for Petroleum, Gas and Biofuels (ANPG), acting as a National Concessionaire, pursuant to Decree No. 86\/18, of 2 April, which establishes the Rules and Procedures for Tenders for the Acquisition of Member Status of the National Concessionaire and for the Contracting of Goods and Services in the\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/09\/Angola-Blocks-2020.jpg?fit=901%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/09\/Angola-Blocks-2020.jpg?fit=901%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/09\/Angola-Blocks-2020.jpg?fit=901%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/09\/Angola-Blocks-2020.jpg?fit=901%2C1200&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":5243,"url":"https:\/\/www.oilnewskenya.com\/index.php\/bp-area-4-partners-sign-lng-sale-and-purchase-agreement-for-offshore-mozambique\/","url_meta":{"origin":13225,"position":5},"title":"BP, Area 4 partners sign LNG sale and purchase agreement for offshore Mozambique","author":"","date":"October 5, 2016","format":false,"excerpt":"BP and the Area 4 concession partners, Eni East Africa (EEA), Galp Energia (Galp), Kogas and Empresa Nactional de Hidrocarbonetos (ENH), have entered into a sales and purchase agreement for BP to purchase 100% of the liquefied natural gas (LNG) produced by the EEA-operated Coral South Floating LNG facility expected\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/10\/BP-Area-4-partners.jpg?fit=783%2C441&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/10\/BP-Area-4-partners.jpg?fit=783%2C441&ssl=1&resize=350%2C200 1x, 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2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=13225"}],"version-history":[{"count":2,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13225\/revisions"}],"predecessor-version":[{"id":13284,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13225\/revisions\/13284"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/13262"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=13225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=13225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=13225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}