The talks started last year and two companies have reached initial agreements and are now finalising the term contracts, said sources.
When completed, it will be PetroChina’s second African acquisition in recent months. Last week, PetroChina bought up to a 20% stake in Mozambique Block 4 from Italian operator Eni. In 2006, Maersk entered into production sharing agreements for Angola’s Block 8 and Block 23 with an interest of 50%.
