Following on from Eni’s announcement on 27 November 2017 of its appointment as Operator of the Cabinda North Block, SOCO International has announced that its 80% owned subsidiary, SOCO Cabinda, has agreed to increase its non-operating working interest in the Cabinda North Block Production Sharing Agreement from 17% to 22%.
The Cabinda North Block is located onshore the Angolan enclave of Cabinda. SOCO’s increased interest and the change of operatorship follows a reassignment of interests amongst the block partners.
Final details and timing of the formal governmental Executive Decree to enact the change of operator and the reassignment of interests are expected shortly. Source: SOCO International.