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Boston, MA -- (SBWire) -- 06/28/2013 --INPEX Angola Block 14 Ltd., an affiliate of INPEX Corporation (INPEX), has agreed to acquire a 9.99% indirect interest in Block 14, offshore Angola, from Total S.A. (Total). Prior to the transaction, Total had a 20% stake in the block. Total intends to transfer its 20% stake in Block 14 to a newly-formed Total affiliate, Angola Block 14 B.V., in which INPEX will become a shareholder. Following the transaction, Total will own a 10.01% stake, while Cabinda Gulf Oil Company Limited, Sonangol Pesquisa e Producao, S.A., Eni Angola Exploration, B.V. and Galp Exploracao e Producao Petrolifera, S.A. will continue to own 31%, 20%, 20% and 9% of the block, respectively. The transaction remains subject to certain conditions, including the approval of Angolan authorities.

Scope

- Rationale behind INPEX Angola acquiring 9.99% Stake in Block 14 from Total.
- To understand the rational behind Total divesting assets as part of its portfolio restructuring.
- Geography Covered- Angola.

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Reasons to Get This Report

- Develop a sound understanding about how the deal is expected to increase INPEX's Middle East and Africa production by around 10.3%.
- To know more about how the acquisition of Block 14 in offshore Angola will enable INPEX to increase its production volume and reserves.
- To have an understanding of Total divesting assets periodically as part of its portfolio restructuring.

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