Ver Angola

Energy

Oil: all blocks under bidding with investment proposals. Offers over 1 billion dollars

Earlier this week, the National Oil, Gas and Biofuels Agency (ANPG) opened the first stage of onshore licensing in 2020. All nine onshore oil and gas blocks in the Lower Congo Basin and Kwanza Basin received proposals of a variety of oil and gas operators.

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45 proposals from 15 different companies were presented to the national petroleum agency, totaling an investment proposal of more than one billion dollars for the sector.

The onshore sedimentary basins on offer, namely the Lower Congo and the Kwanza, have long been home to world-class hydrocarbon discoveries.

"From the initial data we have, we strongly believe in the potential of the nine blocks on offer. We hope to find the right partners to explore them at the end of this process. It is our fervent hope that these blocks will play an important role in increasing oil production from Angola in the future," stated Natacha Massano, executive director and member of the board of ANPG, responsible for the negotiations, in a statement sent to VerAngola.

The agency's efforts to simplify bidding requirements and cut barriers to entry, eliminating the $1 million entry fee for companies intending to bid, can be partly blamed for this success.

Now, all proposals will be analyzed by ANPG's technical teams. Final official results are to be announced on August 25, 2021.

"These promising initial results are a good indication that reforms made earlier to improve the operating environment in the Angolan oil and gas sector are bearing fruit," said Verner Ayukegba, senior vice president of the African Chamber of Energy.

“ANPG has been in existence for just under three years and yet was able to organize a round of bidding during a challenging pandemic. This is testament to the agency's commitment under the leadership of seasoned oil veteran, Paulino Jerónimo, to contain the tide of declining production in Angola," continued Ayukegba.

This tender is another stage of licensing in line with Presidential Decree 52/19, which provides for annual tenders until 2025. The regulator intends to arouse interest, far beyond the traditional players in the oil and gas sector. Special attention was given to attracting medium-sized operators to new exploration areas in Angola.