"The National Agency of Petroleum, Gas and Biofuels (ANGP), as National Concessionaire, holder of mining rights for prospecting, research, evaluation, development and production of liquid and gaseous hydrocarbons in Angola, announces that it was approved at a meeting of the Council of Ministers, this Monday, July 18, the attribution of the concessions of the eight of the nine blocks in tender in the 2020 Bidding to the respective contractor groups", says the ANPG, in a statement sent to VerAngola.
The blocks in the Baixo Congo basin (CON 1, CON 5 and CON 6) and those in the Kwanza basin (KON 5, KON 6, KON 8, KON 17 and KON 20) are at issue.
CON 1 will have the participation of four companies: Somoil (40 percent), Intank Group (40 percent), Monka Oil (10 percent) and Omega Solutions (10 percent).
Five companies will already have a stake in CON 5. MTI Energy will have half the stake (50 percent), Prodoil have 15 percent and Prodiaman, Upite and Servicab each have 11.67 percent.
Also in the Baixo Congo Basin, the share of block CON 6 was attributed to three companies: Mineral One and Somoil with 43.75 percent each and Prodoil with 12.50 percent.
In the Kwanza Basin, KON 5 will have the participation of MTI Energy (60 percent), Sonangol P&P (20 percent), Monka Oil (10 percent) and Simples Oil (10 percent).
The companies Simples Oil and MTI Energy will share the stake in KON 6 (50 percent each). MTI Energy will also retain half of the stake in KON 20, with the remaining 50 percent being attributed to Brite's Oil.
Three companies took the KON 17, namely MTI Energy (60 percent) and Brite's Oil and Mineral Oil, with 20 percent each.
Ultimately, Alfort Petroleum took the largest share of the KON 8 (50 percent) while Simples Oil and MTI Energy each took 20 percent. The remaining 10 percent was allocated to Monka Oil.
In the statement, the ANPG also informs that the act of signing the eight oil contracts awarded "will take place within a period not exceeding 30 days, counting from the date on which the authorization of the aforementioned concessions is published in the Diário de República" and that companies will shortly be notified of the date of execution of the act of signature.
The ANPG also clarifies that "due to repeated failure to comply with the terms established in the tender, the national concessionaire, under the approval of the Ministry of Mineral Resources, Oil and Gas, canceled the award of block KON 9, with the referred asset being available for a new allocation under the terms of the Permanent Offer Regime".