The National Oil, Gas and Biofuels Agency (ANPG) has partnered with five oil groups to set up a consortium to explore, develop and produce liquefied natural gas on a cost-sharing basis, according to official information released on Monday in Luanda.
The project, estimated to cost US$2 billion, brings together Italy’s ENI, BP, France’s Total and US group Chevron, which will explore natural gas resources in blocks 1, 2, 3, 14 and 15. The aim is to offset the decline in gas supply to the Angola LNG consortium’s processing unit in Zaire province.
In the consortium, Chevron has a 31% stake, BP 11.8%, Total 11.8%, ENI 25.6% and Sonangol Pesquisa & Produção has 18.8%.
Angola LNG’s liquefied natural gas production currently ranges between 800 million and 900 million cubic feet per day, and the new consortium is expected to add around 420 million cubic feet of gas per day from 2022.
The president of ANPG, Paulino Jerónimo, said at the signing of the agreements that the constitution had been set up by invitation and involved direct negotiation with the companies, which lasted about 10 months, from January to October.
Source: Macauhub