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Angola’s latest oil and gas tenders net 53 bids

The country’s oil and gas secretary, José Barroso, praised the bidding as ‘another safe step in the process of exploration and production of hydrocarbons.’

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The country’s oil and gas secretary, José Barroso, praised the bidding as ‘another safe step in the process of exploration and production of hydrocarbons.’

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 21 Dec 2023, 11:05 pm

Angola received 53 bids in a tender round for the exploitation of oil and gas deposits at 12 blocks in the Lower Congo and Kwanza Basins, according to reports. 

The National Oil, Gas and Biofuels Agency (ANPG) reported 31 bids for blocks in the Kwanza Basin, including 22 for the conduct of petroleum operations. Two blocks in the north and the most inland block received no interest. The Congo Basin received 22 bids, with one block alone receiving 10 bids. 

Angola’s oil and gas secretary, José Barroso, praised the bidding as “another safe step in the process of exploration and production of hydrocarbons in the onshore areas of the Lower Congo and Kwanza basins, attracting companies with proven experience and accumulated knowledge … in basins with recognized geological complexity.”  

[See more: Angola welcomes investment from Chinese oil and gas companies] 

Early exploration efforts have gone some way to identifying Angola’s onshore hydrocarbon deposits, with extensive geological data available. That, along with proximity to refineries and government incentives, is encouraging investors in the Lower Congo and Kwanza Basin. 

Evaluation of bids will be finalised by 31 December, with results announced by mid-January 2024, the government says. 

Negotiations with the winning bidders are expected to conclude by March 2024, wrapping up the fourth onshore round since the creation of ANPG in February 2019.

 

UPDATED: 21 Dec 2023, 11:05 pm

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