Angola to launch oil and gas bid round April 30

Angola

LUANDA, April 9, 2021 – Angola’s oil and gas regulator has announced April 30 as the launch date of the country’s new bid round, with proposals expected 30 days after.

The country’s National Oil, Gas and Biofuels Agency (ANPG) is holding the round to auction assets in the onshore Lower Congo Basin and offshore Kwanza Basin.

A hybrid online/physical roadshow on Monday will showcase the assets on offer in the licensing round, which has seen delays in the context of the Covid-19 crisis. Potential investors will have until the end of May to submit proposals and pay the round’s USD 1-million entry fee.

The round has put on offer blocks CON1, CON5 and CON6 in the Lower Congo Basin and blocks KON5, KON6, KON8, KON9, KON17 and KON20 in the Kwanza Basin.

Angola has faced years of oil production declines, which the current administration and the recently formed ANPG have sought to reverse by encouraging new exploration and incentivising foreign investment.

For more on Angola’s energy industry, click here.

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