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Mon, 02 Sep 2019 18:28 - Updated Mon, 02 Sep 2019 18:28

Angola: Oil block bidding process due on Tuesday

Luanda - Angolan National Petroleum, Gas and Biofuels Agency (ANPG) starts on 3 September in Luanda the presentation of the public tender for oil blocks in the Namibe and Benguela basins for 2019-2025.

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Offsor Girassol Oil platform

Photo: Angop

The process will cover the Block 10 basins in Benguela and 11, 12, 13, 27, 28, 29, 41, 42 and 43 of Namibe, according to a press release from the institution to reached Angop Monday.

The initiative is meant to promote the oil potential of the blocks to bid, present the new legal framework that provides an attractive environment, as well as all activities linked to the bidding process.

After Luanda, the roadshow will move on to Houston on September 10 followed by London on 17th, with registration deadline between 6 and 13 September, respectively.

The activity ends on September 23, in Dubai, and registration for this event will run until 19 of the same month.

National and international oil firms as well as those interested in participating in such events may join the registration process through e-mail and await the  confirmation.

Recently, the The Chairman of ANPG’s Board of Directors, Paulino Jerónimo, considered important the moment for Angola and the oil sector, noting that “the last time an Angolan bidding process took place was in 2011.”

Angola, which is Africa’s second largest oil producer after Nigeria, at one point produced 1.8 million barrels of oil per day, but lack of investment led to decline in production.

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