Angola: National Agency for Petroleum Presents Bidding Proposals for Oil Blocks

19 June 2023
Angola Press Agency (Luanda)

Luanda — The National Agency for Petroleum, Gas and Biofuels (ANPG) on Tuesday presented in Luanda the bidding script for oil concessions in the Kwanza and Lower Congo onshore basins.

Twelve oil blocks were presented for the launch of the public tender on September 30 of this year, eight of which in the Onshore Kwanza Basin (blocks KON 1, KON 3, KON 7, KON 10, KON 13, KON 14, KON 15 and KON 19) and four in the Lower Congo Onshore Basin (CON 2, CON 3, CON 7 and CON 8).

At this point, 27 drillings have already been drilled in the Lower Kwanza Basin and two in the Lower Congo.

Production is estimated at between 10 and 60 thousand barrels of crude oil per day, with a reserve of more than 300 million barrels.

The ANPG is expecting to reach a production level of 2.1 million barrels/day in the near future. In a first phase, it is intended to maintain production at 1.1 million.

Read the original article on ANGOP.

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