Angola’s oil and gas regulator, the National Oil, Gas and Biofuels Agency (ANPG) has announced that all of the nine oil and gas onshore blocks in the Lower Congo and Kwanza basins have received bids from a variety of oil and gas operators – as ANPG opens bids for its 2020 onshore licensing round
Forty-five proposals from 15 different companies were submitted to the national petroleum agency, totaling a proposed investment sum of more than US$1bn for Angola’s oil and gas sector.
This initial bid round result demonstrates Angola's potential to continually attract interest from investors into its oil and gas sector.
“From the initial data at our disposal, we believe strongly in the potential of the nine blocks on offer. We look forward to finding the right partners for exploring them at the end of this process. It is our fervent hope that these blocks will play an important role in increasing Angola’s oil output in the future,” said Natacha Massano, executive director and board member at the petroleum Agency in charge of negotiations.
The agency’s efforts in streamlining bidding requirements and cutting entry barriers by eliminating the one-million-dollar entry fee for companies wanting to bid, can be partially credited for the large turn-out.
Now, all proposals will be scrutinised by ANPG’s technical teams. Final official results are expected to be announced on 25 August 2021.
“These promising early results are a good indication that the reforms made earlier to improve the operating environment in the Angolan oil and gas sector are bearing fruit,” said Verner Ayukegba, senior vice-president of the African Energy Chamber.
The proposals also included considerable commitments to the development of social and community projects, and the implementation of environmental protection measures to the tune of over several millions of dollars proposed commitments.
This tender is only yet another licensing round in line with Presidential Decree 52/19, which foresees yearly bid rounds until 2025. The ANPG, is intent on attracting interest far beyond the traditional players in Angola’s oil and gas sector.
