The National Oil, Gas and Biofuels Agency (ANPG) last week signed eight contracts for the exploration of oil blocks on the basins of the rivers Congo and Kwanza.
Angola’s oil output is currently 1.1 million barrels per day, however the country’s production quota stipulated by the Organisation of Petroleum Exporting Countries (OPEC) increases to 1.529,000 barrels of oil/day (100 thousand more) as of September this year.
The ANPG signed agreements with MTI Energy, Sonangol Research and Production , Monka Oil, Grupo Simples Oil, Alfort, Brite*s Oil and Gas and Mineral One for the exploitation of the blocks 5,6,8,17 and 20 located onshore of the Kwanza Basin.
For blocks 1, 5 and 6, of the Congo Basin, the agreements were signed with the oil companies Somoil, Intank Group, Monka Oil, Prodoil, Prodian Oil Services, Servicab, Upite Oil Company and Omega.
According to the ANPG CEO, Paulino Jerónimo, the agreements are part of the implementation of the company’s general strategy based on a diagnosis plan of the oil sector.
Paulino Jerónimo added that the ANGP is committed to increasing the geological knowledge of all Angola’s basins through the implementation of hydrocarbon exploration strategy to promote and bid these areas, thus increasing, in case of success, the oil output.
The ANGP CEO said the bidding of more onshore blocks in the Lower Congo and Kwanza Basins is planned for next year, stressing that the Blocks 7, 8 and 9 offshore, and Blocks 32/21, 33/21, 34/21 on the offshore Lower Congo are still available for oil concessions, plus onshore on the Kwanza river area.
Also available are Blocks 10 of Benguela Basin, Blocks 11,12 and 13, 41,42,43 of Namibe Basin, as well as in discovery Blocks 6/15 and 20/15 of Kwanza Basin offshore.
The secretary of State for Oil and Gas, José Barroso, on his turn, said the signing of the contracts represents a milestone for the national concessionaire and greater responsibility for shareholders.
Oil continues to be the main export product and thus produces about 95 percent of the state revenues.
José Barroso stressed that it is now up to the new companies to show that in the subsoil of the Congo and Kwanza basins there is still enough oil potential.
The representative of the Canadian MTI Energy, Allan Schurte, said the company has experience in providing services, machinery and hopes to bring to Angola this potential, develop and expand its operations with the local community through the international experience it has.
The executive director of Somoil, Fernando Hermes, said the moment represents an important milestone for the Angolan people and the entry of several Angolan companies in this sector ensures sustainability and a strategic positioning of patriotism.