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Shell expands Angolan exploration footprint

  • Mercados: Crude oil
  • 03/11/25

Shell has signed an agreement expanding the number of Angolan exploration blocks under its partnership with Norway's state-controlled Equinor and state-owned Sonangol from eight to 17, committing to spend an initial $1bn on acquiring seismic data and drilling wells across the expanded set of deepwater oil blocks, according to state-run news agency Angop.

Angola's oil ministry told Argus that today's heads of agreement also defined the "terms and conditions that will apply under risk service contracts for blocks 19, 34, 35, and all ultra-deepwater blocks located to their west". Shell has also committed to technological innovation and to train Angolan personnel, the oil ministry said.

The Shell, Equinor and Sonangol partnership is similar to but separate from the Shell, Chevron and Sonangol partnership for studies and technical evaluation of the Lower Congo deepwater block 33, for which a deal was signed in September. Shell's exploration footprint in Angola now extends to 18 deepwater blocks in total.

Shell signed agreements for eight blocks — including 19, 34, 35 — in the Lower Congo and Kwanza basins between November 2024 and May this year, partnering Equinor and Sonangol for studies and technical evaluation of the deepwater acreages. The expansion of the exploration blocks to 17 has now taken Shell and its partners further south, past the Kwanza basin, into the Benguela basin, the oil ministry said.


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