The National Oil, Gas, and Biofuels Agency (ANPG) in Angola has officially launched a competitive bidding process for the exploration of 12 oil blocks in the Lower Congo and Kwanza Onshore Basins. The announcement was made by the national concessionaire, ANPG.
Interested national and foreign companies have until November 15th to submit their proposals, adhering to the 40-day timeframe stipulated by law.
The “Tender 2023” comprises a total of 12 oil blocks. Four of these are situated in the Lower Congo Onshore Basin (CON2, COM 3, COM 7, and COM 8), while the remaining eight are located in the Kwanza Onshore Basin (KON 1, KON 3, KON 7, KON 10, KON 13, KON 14, KON 15, and KON 19).
These blocks present a significant estimated potential, with 1,560 MMBO in the Lower Congo Basin and 5,440 MMBO in the Kwanza Basin.
The selection of companies submitting proposals will be based on their demonstrated suitability, as well as their technical and financial capabilities.
The “Tender 2023” aims to rejuvenate hydrocarbon exploration and production in onshore areas, reevaluate the oil potential in the specified basins, and counteract the production decline by promoting increased exploration and resource discovery.
It also seeks to encourage the involvement of small and medium-sized oil companies, foster technological innovation, and implement good governance practices.
Paulino Jerónimo, President of the Board of Directors of ANPG, highlighted that the timing of this competition is favorable, as companies already possess relevant information, which is expected to drive interest in each of the blocks.
He emphasized that the competition aligns with the objective of stabilizing oil production in Angola, closely coordinated with the Ministry of Mineral Resources, Oil, and Gas (Miremper).
