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Oil supermajor, Total has inked an agreement with Angolian state-owned Sonangol to buy stakes in two blocks of the Kwanza Basin, offshore Angola. The deal will gain Total ownership to 50% working interest in Block 20/11, and 80% working interest in Block 21/09. While the payment of $400m to Sonangol will come upon completion of the transaction, another $100m will be funded after reaching a final investment decision (FID).
