Angola’s National Oil, Natural Gas and Biofuels Agency (ANPG) on Thursday in London signed two agreements with multinational oil company BP on the sidelines of the UK-Africa Investment Summit, the Angolan press reported.
The first agreement is focused on the acquisition of exploration rights of Block 18/15 in the Angolan sea and sets out the process and the general terms for the subsequent signing of a service risk contract (CSR) between ANPG and the partners of the Block 18 group.
The block, which is already in production, is operated by BP and has as partners Sonangol Pesquisa e Produção and Sonangol Sinopec International (SSI).
“This is an agreement of principles that will allow us again to have contract and prospecting activity in an area with plenty of oil potential and where we already have some oil discoveries,” said the president of ANPG, Paulino Jerónimo.
The second agreement signed by the ANPG and BP is related to the process of removing landmines in Angola and follows a memorandum of understanding signed with the non-governmental organisation The Halo Trust, aimed at extending this work in Benguela province until 2025.
The new agreements set out an increase in funding up to US$6.1 million, split between own funds and Blocks 18 and 31, according to Angolan news agency Angop.
The ANPG is the concessionary, regulatory and oversight entity of the oil sector in the production segment.