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Angola bids in September for 12 on-shore oil blocks in the Kwanza and Congo Basins

The National Petroleum and Gas Agency (ANPG) will tender next September for 12 oil blocks in the Kwanza and Congo Onshore Basins, with an estimated potential of two billion and six billion barrels, respectively.


The 'roadshow' session for awarding the 12 'on-shore' oil blocks took place this Monday in Luanda, with the presence of national and foreign investors, as well as government entities linked to the oil sector, including Minister of Natural Resources, Oil and Gas.

Diamantino Azevedo, who opened the event, said that this step aims to make a further contribution towards mitigating the decline in production and maintaining sustainability in the hydrocarbon sector.

"We hope with this session to create all the conditions for investors to know what the roadmap is, all the inherent aspects and also the geological formation that exists on the blocks and thus be able to prepare for, in September, when the bidding officially opens, everyone has the tools to participate," he said.

The official stressed that in 2017 the country's oil sector was facing "a difficult situation", initiating a reform process at that time, "which should not be static, but dynamic" and continuous.

"And we are doing everything to reverse this sharp decline, so that we can have stable production for the coming years. And this includes, in addition to the legal and regulatory measures taken, the execution of the strategy for exploration, prospecting, for the search for more oil, bidding strategy and also (...) for the permanent offer of blocks", he highlighted.

This bidding is part of the general strategy for awarding oil concessions, approved in 2019, which by 2025 plans to bid for more than 50 concessions, to mitigate the decline in production and oil reserves in the country.

In turn, the chairman of the Board of Directors of ANPG, Paulino Jerónimo, expressed availability for individual meetings with the various interested investors over the next few weeks, reinforcing the commitment to an open dialogue with its partners.

Speaking to the press, the director of the ANPG Negotiations office, Alcides Andrade, said that this year's bid, after the last one held in 2021, aims to develop the oil segment also in the country's on-shore and with that bring new reserves, new resources and new production, to ensure sustainability in oil activity, which continues to be the biggest contributor to the country's revenue.

According to the director of negotiations at ANPG, this year there will be promotion actions with specific investors, with targeted meetings, as well as in various forums that are taking place in the country or internationally.

"In the case of Luanda, in particular, we are now holding this 'roadshow', it is the first in terms of discussions on the initial presentation of opportunities, but we will continue with individual meetings with the various investors who are present here today (...) until we launch the formal tender that is scheduled for the end of September", underlined Alcides Andrade.

The official underlined that around 27 wells were drilled in the Kwanza Basin and two in the Congo Basin, "information that suggests that there is presence of hydrocarbons", which is "very important for investors", who will be able to prove these exploratory data and move forward to develop these opportunities.


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