The Oil company Total E & P Angola is taking on the exploration, research, development and production of liquid and gaseous hydrocarbons from Block 48, whose mining rights were previously granted to the national concessionaire.
The authorization consists of an executive order signed by minister of Mineral Resources and Petroleum, Diamantino Azevedo, published on May 30 in Official Gazette. The document approves the agreement on risk services between Sonangol and the consortium integreting Sonangol Pesquisa & Produção and Total E & P Angola.
In another Executive Order, Diamantino Azevedo extends the phase of the concession area of the said block for a period of two years. The above period starts from March 16, 2022.
The national concessionaire will sign with the potential investor a contract for services with risk (CRS), after which the consortium will assume the obligations to conduct the activities, reads in the document. Sonangol E.P operated in Block 48, under Presidential Decree No. 57/16, of March 15, which granted the mining rights to the national concessionaire under the area.
Block 48 is located in ultra-deep waters in the Lower Congo Basin, south of the river with the same name. The Block is located 400 kilometres northwest of Luanda and 200 kilometres west of Soyo facilities, northern Zaire province.