africa Angola commodities Gas oil

New oil block concession contracts in Angola include natural gas

The concession contracts for 10 oil blocks in the Namibe and Benguela basins will allow for the exploration of the natural gas found, a director of Angola’s National Oil, Gas and Biofuels Agency (ANPG) said on Tuesday.

Natacha Massano, speaking on the sidelines of the presentation of the new oil concessions to potential investors, pointed out that, until the entry into force of a decree published on May 2018, the gas that was found belonged to the state, “which meant that investors lost interest.”

The new legal framework states that the production agreement is initially issued for oil exploration, but includes a provision for gas, with fiscal terms that can be applied automatically.

Massano stressed that Angola wants to promote the production of natural gas, not only for domestic use and application, for example, in industrial activity, relieving the use of diesel, but also to supply the regional market.

On Tuesday the ANPG was in London to make the third presentation, after Luanda and Houston (USA), of the concessions related to the Benguela (Block 10) and Namibe (Blocks 11, 12, 13, 27, 28, 29, 41, 42 and 43) basins.

The official launch of the tender will take place on 2 October and bids may be submitted from 3 October until 12 November.

Source: Macauhub

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.