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Home Angola

Angola announces plans to start more oil rigs

FurtherAfrica by FurtherAfrica
August 10, 2021
in Africa, Angola, Commodities, Economy, Natural Resources, Oil
Reading Time: 2 mins read
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Understanding: Special benefits of the Angolan oil companies
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Angola foresees to put into operation another six oil rigs by the end of the first quarter of 2022, said the minister of Mineral Resources, Oil and Gas, Diamantino de Azevedo.

Diamantino de Azevedo announced this at the opening ceremony of the sixth consultative council of the sector on Friday held in northern Cuanza Norte province, stating that the start of the new rigs will bring the total number to ten.

According to him, the move is part of strategy to reverse the current sharp decline in the production.

The strategy includes the plan to reduce unplanned stops by improving the preventive maintenance of equipments and the production of additional resources in mature fields using the 3d seismic, for detection of non-produced zones.

The development of the marginal fields, the exploration within the areas of development, the increase of gas resources, the sharing of the means, among the concessions for the reduction of costs and the expansion of the local content are also part of the strategy.

Diamantino de Azevedo announced actions being implemented by the National Agency of Oil and Gas (ANPG) to mitigate the decline of the production at short, medium and long term.

Among the actions, the minister pointed out to the general strategy for the attribution of oil concessions 2019-2025.

Also read: Angola raised US$4,6B with diamonds sales from 2017 to 2020

He said that the strategy, approved by the Executive in 2019, foresees granting of more than 50 blocks, via public tender and direct negotiation.

The minister spoke of the bidding and direct negotiation held in 2019 of blocks in Benguela and Namibe basins and the granting of six blocks.

Diamantino de Azevedo also said that a pre-announcement was made in December 2020 of the bidding of three blocks in the onshore basins of the Baixo Congo and six in Kwanza basins.

ANPG opened this month 46 proposals received in public ceremony for the nine blocks placed at bidding for a total of 16 companies.

Diamantino de Azevedo announced plans to launch a limited public tender in Kwanza and Congo basins, having been sent invitation letters to various companies.

Related

Via: Angop
Tags: AngolaAngola announces plans to start more oil rigscrude oilMinister of Mineral Resources and Petroleum DiamantinooilOil and gasoil rigpetroleumанголаأنغولاアンゴラ安哥拉
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