May 04, 2023

ANPG Publishes Preannouncement of Bid Round for Petroleum Blocks

On March 31, 2023, Angola's National Agency of Petroleum, Gas and Biofuels ("ANPG") published a pre-announcement of a bid round for petroleum blocks in the Baixo Congo and Kwanza Onshore basins.

The ANPG announced that the bidding will begin on September 30, 2023, with the permitted participation of both national and foreign entities. Proposals must be submitted by November 4, 2023. The 40 day bidding process is in accordance with Law No. 10/04 (Petroleum Activities Law, as amended by Law No. 5/19) and with Presidential Decree No. 86/18 (bid rounds rules and procedures).

The pre-announcement identifies 12 blocks that will be offered in the bid round. The Baixo Congo Onshore Basin blocks, with an estimated total potential of 1560 MMBO, are: CON 2, CON 3, CON 7 and CON 8. The Kwanza Onshore Basin blocks, with estimated potential of 5440 MMBO are: KON 1, KON 3, KON 7, KON 10, KON 13, KON 14, KON 15 and KON 19.

The ANPG indicated that it would, in due course, share information on its website regarding the exploration potential of the blocks and the relevant legal and contractual framework. It further noted that appointments may be made on its website to review this data, either physically or electronically (i.e., in a virtual data room).

Finally, the ANPG stated that the bid round aims to (i) promote onshore hydrocarbon exploration and production, (ii) reassess the existing petroleum potential in the Baixo Congo and Kwanza Onshore Basins, (iii) mitigate the decline in production, (iv) encourage the participation of small and medium companies, and (v) stimulate technological innovation.

Stay Up To Date With Our Insights

See how we use a multidisciplinary, integrated approach to meet our clients' needs.