On April 7, 2021, Angola’s National Oil, Gas and Biofuels Agency (ANPG) announced that the next oil and gas bidding round for nine onshore blocks will be launched on April 30, 2021, when the terms of reference for the concession areas (blocks) being offered will be formally disclosed.

The timeline for this bidding round is quite ambitious, with the Angolan government aiming to (i) receive the proposals by June 9, 2021, (ii) open the proposals on June 10, 2021, (iii) evaluate the proposals by July 26, 2021, (iv) award the concession areas by August 10, 2021, (v) negotiate the agreements by October 19, 2021, and (vi) sign the agreements on November 22, 2021.

Areas being offered include blocks in both the Lower Congo and Kwanza basins: Blocks CON1, CON5 and CON6 in the Lower Congo Onshore Basin; and Blocks KON5, KON6, KON8, KON9, KON17 and KON20 in the Kwanza Onshore Basin.

After the launch of the bidding round on April 30, 2021, investors will have 40 days to submit bids, proof of payment of the “entry fee” in the amount of US$1 million and documents verifying their good standing and technical and financial capabilities.

We will keep you posted on the development of the bidding round through our In Briefs.