LUANDA, Angola – Angola’s National Oil, Gas and Biofuels’s Agency (ANPG) says it is highly satisfied with the results of the 2021 onshore bidding round.
Executive administrator, Natacha Massano, announced the concessionaire´s satisfaction with the bid round results at AOG 2021held in Luanda on September 9 and 10.
The concessions will be awarded to the bid round winners on September 23.
The results exceeded the concessionaire’s expectations despite the current associated challenges brought on by the global pandemic, Massano said.
ANPG confidently announced that Angola was the best market globally for investment in the energy sector at AOG 2021.
According to ANPG, once the oil concessions are awarded, the oil and gas operations in country will grow, and create new opportunities for continued investment, skills development and socio-economic growth. The concessionaire is shifting focus from high operation intensive fields in Angola’s offshore waters to onshore explorations, with a primary objective of developing a robust oil and gas sector that is competitive within the region.
“This is a capital-intensive industry, and we want to ensure that we create investment opportunities for the development of onshore exploration activities. These results further cement the concessionaire’s intent to develop strong local oil and gas capabilities that will significantly contribute to Angola’s energy independence goal,” said Massano.
The concessionaire is expecting to award the oil concession to the bid winners on September 23, and is simultaneously accepting investment proposals for the new bid round for eight oil blocks of which three are in the Kwanza Maritime Basin (blocks 7\21 8\21 and 9\21) and five in the lower Congo Maritime Basin (blocks16\21, 31\21 32\21 33\21 and 34\31) as part of the agency´s efforts to boost oil and gas exploration and production in Angola.
AOG 2021 saw ANPG’s senior executives actively promoting Angola as the best market to invest in the energy industry. The concessionaire representatives played a vital role in various high-level panel discussions, promoting the agency’s position as a critical partner in creating highly valued investment opportunities in the Angola’s energy industry.