Angola anticipates more than $60 billion in investments over the next five years, with the upcoming licensing round in 2025 offering companies direct access to new opportunities, reports Energy Capital & Power.
The nation aims to increase oil production to two million barrels per day (bpd) in the long term and is inviting exploration and production companies to invest in its available areas.
Angola’s offshore assets are particularly appealing due to the success of its large-scale developments and numerous undeveloped blocks.
Currently, 75% of the country’s oil production comes from offshore projects, with new projects expected to come online soon, further enhancing the market’s potential.
The Angola Oil & Gas Conference (AOG/2024), scheduled for October 2-3, will connect potential upstream players to Angola’s offshore blocks.
The conference will feature discussion panels and technical presentations offering insights into existing 2D and 3D seismic data.
In the first quarter of 2025, Angola plans to launch a licensing round, offering up to 10 blocks in the Kwanza and Benguela basins.
This is part of a six-year licensing round initiated in 2019, covering both shallow and deep-water areas. Surveying services company POS notes that all blocks are covered by offshore 2D datasets, useful for regional geological assessment and block screening.
Additionally, the Angolan National Oil, Gas, and Biofuels Agency (ANPG) has a permanent bid program allowing new contracts without a formal bidding round.
In the Kwanza Basin, available shallow water blocks include Block 6/15, with nine drilled wells and a commercial discovery; Block 7/21, also with nine drilled wells; and Block 9/21, with 12 drilled wells.
These blocks have resources estimated at 1.04 billion barrels, 4.05 billion barrels, and 1.57 billion barrels, respectively.
In the Lower Congo Basin, deepwater blocks include Block 32/21, with 19 drilled wells, and Block 33/21, with six drilled wells.
Reserves in these blocks are estimated at 7.72 billion barrels and 1.68 billion barrels, respectively. In the Benguela and Namibe Basin, there are three deepwater blocks (Block 41, Block 42, Block 43) and four shallow water blocks (Block 10, Block 11, Block 12, Block 13), all supported by available 2D seismic data, facilitating new exploration campaigns.
