National Oil, Gas and Biofuels Agency (ANPG) continues to work on improving the business environment, aimed at maintaining the current multinationals and attracting the new companies to the national market.
The company’s CEO, Paulino Jerónimo, said that in addition to ensure more investment, the improvement will also enable the national production to remain above 1.1 million barrels per day.
Also read: Politico-diplomatic relations between Angola and Italy highlighted
The company’s manager, who was speaking to the press, on the sidelines of the signing of new contracts with contractors, said ANPG wants the operators to continue their investment, while attracting new investors.
He also spoke of the emerging of the new companies that will operate for the first time in the national market, as part of the good environment.
They include the US multinationals Intank Group and Brite´s Oil and Gas, as well as the Canadian company MTI Energy, which enter the consortiums to operate on blocks of Kwanza Terrestrial Basin.
“We hope to continue to attract more companies. We are showing that the market is good, attractive and very competitive”, noted Paulino Jerónimo.
New bids in sight
The oil sector continues to be strategic for the state, since 95% of Angola´s exports is still crude oil.
From the bidding strategy and new concessions approved in 2019, 55 new concessions are expected to be licensed, of which 25 have already been awarded in this period.
The ANPG CEO added that this year´s agenda includes onshore bidding for eight (8) blocks in the Kwanza onshore basin, near Luanda, Cuanza Norte and Cuanza Sul, and four (4) in the Congo onshore basin, where the largest national private oil company, Somoil, operates.
Also read: Top 5 FDI sectors in Angola
He announced the bidding for this year of 2023 of the oil blocks of the Lower Congo onshore basin (CON 2, CON 3, CON 7 and CON 8) and the other eight blocks in the Kwanza onshore basin (KON 1, KON 3, KON 7, KON 10, KON 13, KON 14, KON 15 and KON 19).
