The multinationals TotalEnergies, AzuleEnergy and Equinor signed, yesterday, in Luanda, production sharing contracts for blocks 16/21 and 31/21 with the National Petroleum, Gas and Biofuels Agency (ANPG).
The act is the result of the Public Adjudication Offer carried out by ANPG, in 2021, and follows the Executive’s Strategic Plan for the attribution of oil concessions 2019-2025.
The Plan foresees the award of more than 50 oil blocks to reaffirm commitments to more incisive exploration and production to halt the decline, and enhance the recovery of the country’s oil reserves.
Yesterday, ANPG signed a sharing contract with TotalEnergies for the exploration of block 16/21, in the Lower Congo Maritime Basin, with a 100 percent stake.
Azule Energy (50%) and Equinor (50%) share the exploration of block 31/21, also located in the Lower Congo Maritime Basin, but Equinor enters the business as a “non-operator”.
For the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, who spoke at the opening, the blocks will contribute to the Executive’s efforts to “maintain” oil production at a level representative of continued support for the country’s development.
Diamantino Azevedo reaffirmed that the country will still need hydrocarbons for many years, despite being aware that the country must change the way it looks at the industry, working more towards the diversification of the economy.
For the chairman of the Board of Directors of ANPG, Paulino Jerónimo, the signed contracts mean more investment in the oil sector that wants to remain dynamic and mitigate the decline in production.
The Executive Director of Azule Energy, Adriano Mongini, stated that the signed contract represents an “important milestone” for his company, as Block 31/21 is the first exploration block since the establishment of the Joint Venture between BP and ENI, in August 2022.
Located 170 kilometers from the coast, block 31/21 occupies an area of 4,500 square kilometers in the deep waters of the basin, with the prospect of exploring 250 thousand barrels per day, according to Adriano Mongini.
