Oil and Gas

Angolan state-owned oil company (Sonangol) has launched bids to sell part of the rights it owns in two national offshore oil blocks, according to a note from the company distributed on Friday to the press in Luanda.

The statement indicates that Sonangol is inviting bids for stakes in blocks 20/11 and 20/11.

The national Oil Company, according to the note, intends to hold sessions with potential national and international investors as of April 24 until June 29.

The Oil Block 20/11 is 30 percent owned by Sonangol, 30 pct by British Petrolium (BP) and 40 pct by Cobalt while block 21/09 is 60 pct owned by Sonangol and 40 pct operated by the American Oil Company (Cobalt ). Enditem



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