Ver Angola


More than 20 companies present proposals for oil exploration in Lower Congo and Kwanza

A total of 22 companies, including national and foreign, are competing to explore the 12 blocks in the Lower Congo and Kwanza onshore basins, which are up for bidding, it was announced this Thursday, in the event that marked the opening of proposals for bidding 2023, where companies applied in virtual and physical format.

: Facebook Ministério dos Recursos Minerais, Petróleo e Gás Angola
Facebook Ministério dos Recursos Minerais, Petróleo e Gás Angola  

The next step is the evaluation of the proposals. Quoted by Angop, Alcides Andrade, president of the evaluation committee, said that the evaluation will take place until the end of next month, with the aim of publishing the chosen companies in January of next year.

The calendar also foresees that the contracts will be signed in March 2024.

Paulino Jerónimo, president of the Board of Directors (PCA) of the National Petroleum, Gas and Biofuels Agency (ANPG), said that the objective is to reach approximately 50 blocks by 2025, with 24 currently being tendered.

"We are committed to maintaining our country as an attractive point for investment in the oil sector with the implementation of a set of reforms outlined by the Ministry of Mineral Resources, Oil and Gas", he said, quoted by Angop.

The official also stated that the opening and proposal reflects a historic event additional to the sector's successes, after the bidding rounds of 2019, 2020 and 2021.

"We are encouraged by the anticipation of a positive outcome from the combination of wills between our offer and the interest of those companies (large, medium and small), which are betting on the Angolan market as an ideal destination for their investments", he added, quoted by Angop.

According to José Barroso, Secretary of State for Oil and Gas, who presided over the ceremony, the competition will boost the emergence of small and medium-sized companies in the oil sector, as well as encourage the insertion of qualified national labor and innovation technology and good governance practices, writes Angop.

The official admitted that "all these factors will contribute to mitigating the decline in production, increasing the exploration activity and discovery of new resources".

It should be noted that four of the blocks up for bid concern the Lower Congo onshore basin, while the remaining eight are in the Kwanza onshore basin.


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