Angola plans new oil bid round

Angola

LUANDA, October 30, 2018 – Angolan Minister of Mineral Resources and Oil Diamantino Azevedo has said the government is planning a new bid round in 2019, local media reported Monday.

The round is set to include both on and offshore oil prospecting blocks, Macau Hub reported. The minister added that it could take up to seven years to see the results of the bid round.

Minister Azevedo also reiterated the government’s plan to privatise 54 Sonangol subsidiaries. In September, the NOC gave the Angolan government a list of 54 companies in the group to be privatised.