Angola outlines E&P bidding round schedule
LUANDA, February 25, 2019 – Angola’s government will allocate 55 oil and gas blocks through 2025 in an effort to boost reserves replacement and increase natural gas production, President João Lourenço said at a presentation on Monday.
The first 10 blocks, all located onshore in the Namibe and Benguela basins, are expected to be offered during the Angola Oil & Gas 2019 conference in early June. Nine Congo and Kwanza basin blocks will be auctioned in 2020 and a final round for 12 areas in the same basins is slated for 2023.
NOC Sonangol will take at least 20% stakes in each of blocks.
Seismic acquisition will also take place in the country’s Namibe, Etosha, Okavango and Cassange basins as part of the scheme, local publication Africa Oil & Power reported.