The National Oil, Gas, and Biofuels Agency (ANPG) outlined its strategy to auction off 50 oil blocks by 2025 to bolster and stabilize national oil production.
This initiative was highlighted by Paulimo Jerónimo, the president of ANPG’s Board of Directors, during the launch of bidding proposals for the exploration of the Lower Congo and Kwanza Onshore Basins in Luanda.
Jerónimo emphasized Angola’s conducive business environment and flexibility in negotiations, underscoring the commitment to offering approximately 50 blocks to investors by 2025.
He reassured that ANPG remains dedicated to maintaining Angola’s appeal for oil sector investment through reforms administered by the Ministry of Mineral Resources, Oil, and Gas.
Expressing contentment, Jerónimo hailed the keen interest of companies—big, medium, and small—that view Angola as an optimal investment destination.
The ongoing process, which began on September 30, received a total of 22 applications, reflecting continued interest in Angola’s oil sector.
Several companies, including Sonangol, ETU Energy, and ACREP, have proposed blocks in the Kwanza and Congo basins.
The jury panel, comprising representatives from ANPG and government ministries, will allocate 12 blocks—four in the Congo Onshore Basin and eight in the Kwanza Terrestrial Basin.
Alcides Andrade, the president of the jury board, highlighted that this marks the fourth bidding round in four years.
The allocated blocks cover provinces such as Zaire, Bengo, Luanda, Kwanza-Norte, and Kwanza-Sul. The final results are expected to be disclosed by the end of December this year.
