On Tuesday, Angola’s National Agency for Oil, Gas, and Biofuels (ANPG) hosted the first of four roadshows in Luanda to highlight the first 10 blocks to be auctioned in 2019.
The offshore blocks are located in the Benguela and Namibe basin and will also be presented in Houston, London and Dubai as part of the roadshow.
The new bidding round was first announced during the inaugural Angola Oil and Gas conference and exhibition organized by Africa Oil and Power earlier this year.
The blocks included in this round are, block 10 of the Benguela basin and blocks 11, 12, 13, 27, 28, 29, 41, 42 and 43 in the Namibe basin.
The series of roadshows include technical presentations of the potential of these 10 blocks with a total area of 55.387,88 km2 up for production sharing contracts.
Angola’s Minister of Mineral Resources Oil and Gas Diamantino Azevedo opened the roadshow and expressed the government’s “commitment with the whole oil industry and its players”. He further highlighted the legal changes that make the process of auctioning and awarding contracts faster and more transparent.
The ANPG’s CEO, Paulino Jerónimo also confirmed the “efforts of the agency towards this commitment and towards reaching goals for all involved stakeholders, namely the state, the operators and service providers and society”.
Further, presentations were done on technical and legal aspects of the bidding round.
The technical studies and leads presented and showcased the potential in each of the blocks. A data package that can be acquired from the ANPG includes all the relevant geological, geochemical, gravimetry, magnetometry, seismic, and well technical data.
Onshore presence of oil and gas seeps and the results from wells prove the existence of hydrocarbons in both basins.
The official tender process will begin on 3 October and end on 11 November 11, 2019. All bids must be presented in Portuguese.
Negotiations with the winning parties will take place between January and March 2020 and production sharing agreements will be signed in April.
The agreements take effect on the first working day of the month following the signing.
The next stops of the roadshow are The Post Oak Hotel in Houston, on September 10, the Intercontinental London Hotel in London on September 17 and The Address Dubai Mall Hotel on September 23.
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