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| Name | Symbol | Market | Type |
|---|---|---|---|
| Equinor ASA | NYSE:EQNR | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.45 | 1.67% | 27.44 | 27.64 | 27.17 | 27.54 | 4,579,700 | 00:51:12 |
From May 2019 to May 2024
By Cristina Roca
Total SA (FP.FR) said Monday that its consortium with Equinor ASA (EQNR.OS), Exxon Mobil Corp. (XOM) and BP PLC (BP.LN) has extended its production licences in Angola through 2045.
The consortium has reached an agreement with Angola's national oil, gas and biofuels agency ANPG and state-owned Sonangol to extend all its licences in Block 17 offshore Angola, the French energy major said.
Sonangol will get a 5% stake in Block 17 when the agreement comes into effect and an additional 5% interest in 2036, Total said, which is the operator of the block.
"Additionally, the consortium will pay some production bonuses to the State of Angola along the life of the license and will spend [$20 million] for social programs," Total said.
Block 17 currently produces 440,000 barrels of oil equivalent per day, and has more than 1 billion barrels yet to be produced, Total said.
Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca
(END) Dow Jones Newswires
December 16, 2019 11:40 ET (16:40 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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