Ver Angola


ANPG signs addendum to the sharing agreement with partners to boost the oil sector

The ANPG - National Agency for Oil, Gas and Biofuels, the Angolan Petroleum Society (Somoil) and their partners in Block 2/05 signed this Friday an addendum to the production sharing contract to "maintain fiscal economic balance".


The instrument signed in Luanda will also define and regulate the rights and obligations of the parties in relation to the petroleum operations to be carried out and allow for the extension of the concession's production period.

The Block 2/05 contractor group includes Somoil (operator), with a 30 percent stake, Falcon Oil (20 percent), Kotoli (12.50 percent), Poliedro (12.50 percent ), Prodoil (12.50 percent) and Acrep (12.50 percent).

The ANPG, in a statement sent to Lusa, states that the contractor group must also perform various obligations during the extension period, namely drilling an exploration well, increasing production, 'worker' campaign, recovery of production units on the Lombo Este platform. and carry out lifting gas network extension activities.

One of the new areas of Block 2/05 results from the unification of 16 development areas, the statement said.

The addendum was signed after the publication of Presidential Decree No. 172/22 of 19 July, in which the holder of executive power and President, João Lourenço, approves the changes to the block's production sharing contract.

According to the chairman of the ANPG Board of Directors, Paulino Jerónimo, quoted in the note, the act will boost the national oil sector.

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