18 March 2019

Angola: National Oil Agency Launches a Bid of 55 Oil Blocks

Luanda — The National Oil and Gas Agency (ANPG) announced plans to launch a bid of 55 offshore and onshore blocks this year.

The announcement was made Friday in Luanda by the minister of Mineral Resources and Petroleum, Diamantino Azevedo.

During a conference under the topic "Shaping the Future", sponsored by the consulting firm Ernest Young (EY), Azevedo said that the ANPG plans continue its studies on inland sea basins and methods to launch a bid of blocks.

The announcement follows the presentation for approval by Cabinet Council in 2018 of a strategic plan and bidding of the new oil blocks for 2019/2022, in view of discovery of the new reserves to increase output, in the light of National Development Plan approved this year.

However, the official said that the partial privatisation of the State-owned oil firm Sonangol in the stock exchanges would be carried out after the completion of the company's restructuring programme, as part of the adjustment of the oil sector organisation.

The restructuring process was approved by the Angolan president, João Lourenço in September 2018 to find solutions that contribute to the sustainability and growth of the oil industry in Angola.

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