Ver Angola

Energy

Total, Equinor, Sonangol and BP win rights to explore new oil block

The oil companies Total, Equinor, Sonangol and BP won the exploration and production rights of Block 29, in Namibe province, announced this Friday the National Agency of Petroleum, Gas and Biofuels (ANPG).

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The ANPG, in a statement, states that the exploration award to the oil companies results from its first international bidding round, as part of its 2019-2020 Bidding Program.

According to the concessionaire, for exploration of Block 29 the French company Total has a 46 percent stake, the Norwegian multinational Equinor with 24.5 percent, the Angolan state company Sonangol with 20 percent and for the British BP 9.5 percent.

As part of this bidding process for the Namibe and Benguela basins, which began in 2019, ANPG also decided to award exploration rights for Block 27 to Sonangol (35 per cent of the stake).

As for the remaining 65 percent of Block 27's shares, the agency clarifies that the act of negotiations will "together with the awarded companies find means that will lead to the identification of interested companies for the conclusion of the constitution of the contractor groups".

ANPG, the national concessionaire, holds the mining rights for prospecting, research, development and production of liquid and gaseous hydrocarbons throughout the country.